Medtronic has entered into a definitive agreement to purchase medical technology company Salient Surgical Technologies.
The total value of the transaction is $525m.
Medtronic had previously invested in Salient and currently holds an ownership stake in Salient.
Hence, the transaction value comes to approximately $480m.
The transaction is expected to broaden Medtronic Surgical Technologies’ portfolio of surgical products.
Salient Surgical Technologies’ AQUAMANTYS system with patented TRANSCOLLATION technology provides hemostatic sealing of soft tissue and bone tissue at the surgical site.
The technology is used to optimize care for patients undergoing a surgical procedures like orthopaedic surgery, spine, open abdominal and thoracic procedures.
Medtronic Restorative Therapies Group executive vice president and president Chris Connell said integrating the Salient Surgical Technologies organization will bring new applications to Medtronic Surgical Technologies’ 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.
The acquisition is subject to governmental and regulatory review in the US and several countries.