Assuming receipt of regulatory and other clearances and satisfaction of other closing conditions, the acquisition is expected to close by the end of calendar year 2020. The transaction is expected to be immaterial to Medtronic’s adjusted earnings per share in the first two fiscal years before turning accretive in fiscal year 2023. In addition, it is expected to meet Medtronic's long-term financial metrics for acquisitions.
Advisors
BofA Securities and Société Générale are acting as financial advisors to Medtronic, and DLA Piper is serving as legal advisor. Cowen is acting as financial advisor to Medicrea, and Baker McKenzie is serving as legal advisor.
About Medicrea
Through the lens of predictive medicine, Medicrea leads the design, integrated manufacture, and distribution of more than 30 510(k) cleared implant technologies, utilized in over 175,000 spinal surgeries to date. Medicrea is a Small and Medium sized Enterprise (SME) with 175 employees worldwide, which includes 35 employees in New York, NY. The company has a modern manufacturing facility in Lyon, France housing the development and production of 3D-printed titanium patient-specific implants. By leveraging its proprietary software analysis tools with big data and machine learning technologies supported by an expansive collection of clinical and scientific data, Medicrea is well-placed to streamline the efficiency of spinal care, reducing procedural complications and limiting time spent in the operating room.
About Medtronic
Medtronic plc (www.medtronic.com), headquartered in Dublin, Ireland, is among the world's largest medical technology, services, and solutions companies – alleviating pain, restoring health, and extending life for millions of people around the world. Medtronic employs more than 90,000 people worldwide, serving physicians, hospitals, and patients in more than 150 countries. The company is focused on collaborating with stakeholders around the world to take healthcare Further, Together.
Back to HCB News
