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Medtronic acquires majority of shares of Biostar

Medtronic has announced that one of its subsidiaries has acquired a majority of the shares of Biostar, which will assume the distribution of Medtronic products in Turkey formerly distributed by Medicall Biomedikal , creating a new collaboration between Medtronic and Medicall in Turkey.

The transaction is intended to support Medtronic’s strategy to get even closer to the customer, improve and increase efforts in market development, and accelerate growth.

The collaboration of Medtronic and Medicall embodied in joint ownership of Biostar will help reduce barriers to treatment, and the sharing of experience and expertise will open up new opportunities for training and education of healthcare professionals to better meet the needs of physicians and patients in Turkey.

Medicall has been a Medtronic distributor in Turkey since 2003, and handles Medtronic’s Cardiac Rhythm Disease Management, Atrial Fibrillation Solutions, Structural Heart and Renal Denervation product lines.

Medicall has approximately 130 employees, of whom approximately 85 will transfer to Biostar in connection with the transaction. Medicall will render certain services to Biostar to ensure a smooth transition of the business.

Medicall’s distribution of its non-Medtronic product lines will be unaffected by the new arrangement with Medtronic.

Ayhan Öztürk, previously CEO of Medicall, has been appointed to be the managing director of Medtronic Turkey. Additionally, Atilla Küçükyalçin, who has served as vice president sales and marketing of Medicall, will lead the CardioVascular Group (CVG) of Medtronic Turkey. Their responsibilities will include the activities of Biostar.

Medtronic Middle East, Turkey and Africa managing director and vice president Majid Kaddoumi noted that in key emerging markets like Turkey, creative collaborative ventures like these can help the company address the barriers to treatment that patients face today.

"We believe this new relationship will bring us closer to the healthcare system in Turkey and will help increase access to available therapies, improve outcomes through our Academia programs, and optimize cost and efficiency for hospitals, physicians, patients and payers," Kaddoumi added.