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| Medtronic's Activa PC+S deep brain stimulation therapy device--Courtesy of Medtronic |
Medtronic ($MDT) today announced the $200 million acquisition of the Netherlands' Sapiens Steering Brain Stimulation device to bulk up its neuromodulation offerings.
"This acquisition broadens our neuroscience leadership position with innovative brain modulation technology that, along with our comprehensive portfolio of DBS solutions, may one day transform the way physicians are able to treat patients with neurodegenerative diseases like Parkinson's disease and essential tremor," Lothar Krinke, vice president and general manager of Medtronic's brain modulation business, said in a statement.
Sapiens is developing a deep brain stimulation system with 40 stimulation points, says the release. Sapiens' site in Eindhoven, Netherlands, will become a research and development center for Medtronic's neuromodulation business.
Medtronic said the deal does not impact its earnings guidance for fiscal year 2015. Medtronic's DBS neurostimulator has been used in 115,000 patients around the world for the treatment of essential tremor, advanced Parkinson's disease and the movement disorder chronic intractable primary dystonia, according to the release. Outside the U.S. it is also approved to treat epilepsy.
The deal highlights growing scientific and business interest in neurological implants. Earlier this month St. Jude Medical ($STJ) finalized its acquisition of neuromodulation company NeuroTherm and its radiofrequency ablation technology, a minimally invasive procedure that reduces chronic pain by targeting painful nerves in the neck and back.
In addition, NeuroPace's implantable neurostimulator recently became one of only three devices to receive new technology add-on payments from the federal Centers for Medicare & Medicaid Services in recognition of its clinical benefits compared with older therapies for the treatment of uncontrolled epilepsy in adults. And the Department of Defense has recently allocated a four-year grant of up to $40 million to foster implants and electronic interfaces that diagnose and treat memory loss due to traumatic brain injury.
- read the release
- more about Medtronic's neuromodulation business
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