Weeks after Medtronic and Covidien won shareholder approval for their $43 billion merger, the companies expect to finalize the deal today after the Irish High Court signed off on the pending acquisition.
The FDA has approved a second-generation Medtronic device to treat gastroparesis patients who are not able to control nausea and vomiting using drugs. The Enterra II System has been approved under a humanitarian device exemption, which is used by the agency to approve devices intended for a population of fewer than 4,000 people in the U.S.
Medtronic's MiniMed 640G insulin pump is now available in Australia, with additional launches pending local approval. The company says the device represents the latest march toward the development of an artificial pancreas.
Medtronic and Covidien are nearing the finish line of their pending $43 billion merger as Medtronic shareholders voted on Tuesday to approve the deal, following in the footsteps of a similar vote from Covidien shareholders.
The FDA gave PMA approval to Medtronic's IN.PACT Admiral drug-coated balloon for the treatment of peripheral artery disease in the upper leg, making it a competitor to C.R. Bard's recently approved Lutonix 035 balloon.
Medtronic touted study results in the journal Circulation showing that its In.Pact Admiral drug-coated balloon fared better than traditional balloon angioplasty in the treatment of symptomatic peripheral artery disease in the upper leg.
Medical device giant Medtronic said it reached another milestone in developing an artificial pancreas with the completion of global evaluations of its new insulin delivery system.
Medtronic has launched NovaShield Injectable Nasal Packing and Stent for functional endoscopic sinus surgery after an FDA approval in October. It's a gel made from chitosan that's placed in the sinus or nasal cavities after the surgery.
This has been a good year for M&A in the medical device industry. The number of deals rose 39% to 57 announced transactions. Moreover, deal value more than sextupled to $86 billion, up from $14 billion in 2013.
As lawmakers and regulators crack down on med tech companies launching corporate inversions for tax-paying purposes, the U.S. Internal Revenue Service is zeroing in on another tactic used by devicemakers like Medtronic and Covidien to guard offshore earnings and avoid steep domestic tax rates.