Medtronic completes dual acquisition

 

Global medtech corporation Medtronic has completed the acquisition of two companies that specialise in technologies for energy surgery: PEAK Surgical and Salient Surgical Technologies.

PEAK Surgical is a leader in the new field of advanced energy surgical incision. Its PlasmaBlade cutting technology has been approved for use in a range of applications, including Ear, Nose and Throat (ENT) surgery and reconstructive surgery.

Medtronic has acquired PEAK for a total of $120 million, including an existing ownership stake of $15 million. PEAK’s revenue is currently $20 million per annum and shows rapid growth.

Salient Surgical Technologies is a pioneer in the use of energy techniques for haemostatic sealing of soft tissue and bone. Its Transcollation technology has approval for use in a wide range of surgical applications including orthopaedic, spinal, open abdominal and thoracic procedures.

Medtronic has acquired Salient for a total of $525 million, including an existing ownership stake of $45 million. Salient’s revenue is currently $100 million per annum and shows rapid growth.

Chris O’Connell, EVP and President of Medtronic’s Restorative Therapies Group, said the acquisitions would enable Medtronic to “focus on offering a more broad portfolio of innovative surgical products”.

He noted: “Together, these acquisitions represent Medtronic’s commitment to innovation across the entire surgical continuum from incision to closing, and represent entries into new areas such as plastic/reconstruction, electrophysiology, oncology and large bone orthopaedics.”