Medtronic acquires Cardiocom for USD 200 million

By IVCPOST Staff Reporter

Aug 12, 2013 07:01 AM EDT

Medtronic Inc, the world's largest medical technology company, bought Cardiocom Llc for USD 200 million. Cardiocom is a privately-held firm that specializes in disease management and patient monitoring.  The Wall Street Journal reported that the all-cash deal enabled Medtronic to decrease the expenses of treating patients suffering from chronic conditions but don't need Medtronic's expensive devices. Instead, the Minneapolis-based firm would be able to offer Cardiocom's products like weight scales and home glucose monitors that would enable doctors to monitor progress in patients' conditions.

The acquisition would benefit patients who are conscious of their hospital costs. President of Medtronic US Mike Genau explained, "In prior years, most [device] companies focused much more on the clinical value side. While that's important, there's more and more focus on, 'show me how you take costs out of the system'." Purchasing Cardiocom would especially enable them to reach out to more patients contending with heart failure even as Medtronic would continue to manufacture implantable heart devices for those suffering from the condition.

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