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Medtronic/Raytel Medical

This article was originally published in The Gray Sheet

Executive Summary

San Mateo, California-based Raytel acquires Medtronic's Forest Hills, New York-based CardioCare division on March 1. The telephonic pacemaker follow-up and arrhythmia monitoring service division of Medtronic will become a part of Raytel's Cardiac Datacorp division; the Raytel division currently provides only telephonic pacemaker monitoring services. "No immediate workforce reductions or relocations are expected," and service will continue without disruptions, the firms say. Generating approximately $25 mil. in annual revenues, the CardioCare business has about 300 employees and serves approximately 40,000 people. Terms of the sale were not disclosed.
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