Medtronic Expands Spine Surgery Portfolio By Acquiring Medicrea
Medtronic has announced a deal to buy French spinal surgery company Medicrea for about €200m ($228m). The acquisition makes Medtronic the first company to offer an integrated AI-driven spinal surgery solution.
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Device company Medicrea, which was recently acquired by Medtronic, is paying $2m to resolve allegations the company violated both the False Claims Act and the Open Payments Program.
During Q3 biopharmas reached $41.7bn in merger and acquisition value and drew in $44.4bn in potential deal value from alliances. Device company M&A values reached $17.9bn while in vitro diagnostic firms and research tools players completed M&A activity that totaled $8.2bn.
Medtronic’s revenue of $6.5bn in the first quarter of fiscal 2021 represents a 17% fall year-over-year, but it still beat analysts’ projections.