Medtronic Acquires Surgical Businesses (written by Walter Eisner @ OTW)
Medtronic, Inc. announced on July 7 that it was acquiring Salient Surgical Technologies Inc., of Portsmouth, New Hampshire, and Peak Surgical Inc. of Palo Alto, California.
The two companies, in which Medtronic already holds an ownership stake, will join the company’s surgical technologies business. Net of Medtronic’s existing ownership, the deals are worth $480 million for Salient and $105 million for Peak.Salient Surgical Technologies
Salient is a leader in the advanced energy category for haemostatic sealing of soft tissue and bone in a variety of surgical procedures including orthopedic surgery, spine, open abdominal and thoracic procedures. Salient’s AQUAMANTYS system with patented TRANSCOLLATION technology will broaden Medtronic’s portfolio of surgical products.
Salient’s technology has been used to care for more than 650,000 patients.
Peak Surgical
Peak is a leader in the emerging field of advanced energy surgical incision technology. The technology is based on its proprietary PlasmaBlade technology, which consists of a family of disposable cutting devices with proprietary insulation technology that offers, says the company, the exacting control of a scalpel and the bleeding control of traditional electrosurgery with minimal thermal tissue damage.
Peak’s technology is cleared for use in a variety of settings, including ear, nose and throat (ENT), plastic reconstructive, orthopedic and general surgical applications. The PEAK Surgery System was launched in July 2008 and has been used by U.S. surgeons on more than 25,000 patients.
According to the company statement, annualized revenue for Salient is approximately $100 million while Peak is at $20 million, and “growing rapidly.”
Medtronic’s surgical business reached $1 billion in sales for the first time last year.