Medtronic, Inc. MDT today announced
the closing of the acquisition of Cardiocom, a privately held developer and
provider of integrated telehealth and patient services for the management of
chronic diseases, in an all cash transaction valued at $200 million.
Medtronic expects the net impact from this transaction to be neutral to fiscal
year 2014 earnings and for this transaction to be consistent with the
company's disciplined focus on long-term returns.
This acquisition is in support of Medtronic's transition toward expanding the
company's medical device product offerings to broader healthcare services and
solutions, providing meaningful clinical and economic value for hospitals,
physicians, patients and payers. The first area of focus for Medtronic will
be in heart failure, where the addition of the Cardiocom technology and
patient services to its product offerings will expand its reach to more
patients across the heart failure care continuum.
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