Medtronic Acquires Two Surgical Product Companies for US$645 Million

Medtronic, Inc. (Minneapolis, MN, USA), a leading medical technology company, has bought Peak Surgical Inc. (Palo Alto, CA, USA) and Salient Surgical Technologies, Inc. (Portsmouth, NH, USA). The two acquisitions combined are valued at about US$645 million.

The acquisitions mark the opening of a new growth avenue for Medtronic, broadening its portfolio of surgical products. Peak develops a range of disposable cutting devices based on its proprietary PlasmaBlade technology, for use in ear, nose, and throat, plastic reconstructive, orthopedic, and general surgical applications. Salient, a rapidly expanding company, specializes in the advanced energy category for hemostatic sealing of soft tissue and bone in orthopedic surgery, spine, open abdominal, and thoracic procedures, using its patented Transcollation technology.

"Integrating the Salient Surgical Technologies organization will bring new applications to Medtronic Surgical Technologies' current surgical therapy areas and expand the company's opportunities in adjacent offerings, helping Medtronic serve new customers and better meet the needs of existing ones," said Chris O'Connell, executive VP and president of Medtronic's Restorative Therapies Group.

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