(RTTNews) - Medtronic PLC (MDT, 2M6.DE), an Irish healthcare technology company, said on Tuesday that it has inked a deal to acquire Scientia Vascular. The acquisition is valued at $550 million, with potential undisclosed earn-out and milestone payments post-acquisition.
The acquisition is anticipated to be closed in the first half of 2017 and is expected to be minimally dilutive to Medtronic's adjusted income per share in fiscal 2027 and accretive thereafter.
Scientia, a technology company focused on the neurovascular portfolio operating in Salt Lake City, Utah.
Scientia's portfolio of guidewires and catheters can be seamlessly integrated with Medtronic's existing suite of neurovascular products.
Linnea Burman, Senior Vice President And President of Medtronic's Neurovascular business, which is part of the neuroscience portfolio at Medtronic, said: "This acquisition positions Medtronic with a full suite of products. It builds a strong foundation for Medtronic and supports procedures across both hemorrhagic and acute ischemic stroke. Medtronic's best-in-class therapies, combined with Scientia's leading access portfolio, will be incredibly powerful."
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