Marty
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Medtronic buys two heart-valve manufacturers.
The Wall Street Journal (2/24, B3, Kamp) reports that "Medtronic, Inc. agreed to pay at least $1.03 billion to buy two closely held makers of replacement heart valves that don't require major surgery, taking the medical-device maker into a nascent market and fueling a rivalry with Edwards Lifesciences Corp." The two purchases, "for CoreValve, Inc. and Ventor Technologies, Ltd., could help Medtronic offset sluggish conditions in its biggest business -- implantable heart defibrillators -- and competitive pressure elsewhere." The devices the companies manufacture "are replacements for the aortic valve, which sends blood from the heart's main pumping chamber. The aortic valve can become narrow to the point at which it impedes blood flow, in which case patients may need a replacement."
Minnesota's Star Tribune (2/24, Moore) notes that both companies "are developing new ways to replace heart valves in patients." Scott Ward, president of Medtronic's CardioVascular division, said, "Surgery to replace aortic valves is very successful; patients who have their valves replaced do quite well. ... But there are patients now who are not surgical candidates."
The AP (2/24) explains that Corevalve's "technology has been implanted in 2,600 patients worldwide, though it has not yet been cleared for use by the Food and Drug Administration. Rather than performing open-heart surgery, the company's system allows a surgeon to insert a replacement heart valve through a small incision in the leg artery." Meanwhile, "Ventor Technologies' products are especially designed for patients with heart valves that don't open completely, but who are too sick to undergo surgery. Medtronic estimated about 300,000 people worldwide have the condition." The Financial Times (2/24, Arnold), Bloomberg News (2/24, Nussbaum), the Memphis Business Journal (2/24, Vomhof), and Modern Healthcare (2/24, Blesch) also cover the story
The Wall Street Journal (2/24, B3, Kamp) reports that "Medtronic, Inc. agreed to pay at least $1.03 billion to buy two closely held makers of replacement heart valves that don't require major surgery, taking the medical-device maker into a nascent market and fueling a rivalry with Edwards Lifesciences Corp." The two purchases, "for CoreValve, Inc. and Ventor Technologies, Ltd., could help Medtronic offset sluggish conditions in its biggest business -- implantable heart defibrillators -- and competitive pressure elsewhere." The devices the companies manufacture "are replacements for the aortic valve, which sends blood from the heart's main pumping chamber. The aortic valve can become narrow to the point at which it impedes blood flow, in which case patients may need a replacement."
Minnesota's Star Tribune (2/24, Moore) notes that both companies "are developing new ways to replace heart valves in patients." Scott Ward, president of Medtronic's CardioVascular division, said, "Surgery to replace aortic valves is very successful; patients who have their valves replaced do quite well. ... But there are patients now who are not surgical candidates."
The AP (2/24) explains that Corevalve's "technology has been implanted in 2,600 patients worldwide, though it has not yet been cleared for use by the Food and Drug Administration. Rather than performing open-heart surgery, the company's system allows a surgeon to insert a replacement heart valve through a small incision in the leg artery." Meanwhile, "Ventor Technologies' products are especially designed for patients with heart valves that don't open completely, but who are too sick to undergo surgery. Medtronic estimated about 300,000 people worldwide have the condition." The Financial Times (2/24, Arnold), Bloomberg News (2/24, Nussbaum), the Memphis Business Journal (2/24, Vomhof), and Modern Healthcare (2/24, Blesch) also cover the story