September 27, 2015
Medtronic Acquires Lazarus Effect
September 28, 2015—Medtronic plc announced that it has acquired Lazarus Effect, a medical device company focused on acute ischemic stroke products that facilitate the capture and removal of clots.
The Lazarus Cover is an adjunctive device used in stent retriever procedures. The device, which is complementary to Medtronic’s Solitaire stent retriever platform, features a nitinol mesh cover that folds over a stent retriever device during clot retrieval and “candy wraps” the stent with the clot inside.
The Lazarus Cover device obtained European CE Mark approval November 2014 for commercial distribution in the European Union. The regulatory approval process in the United States is pending.
Medtronic’s acquisition of the privately held, California-based Lazarus Effect company is an all-cash transaction of $100 million. The Lazarus Effect product line will be reported as part of Medtronic’s Neurovascular division within the Restorative Therapies Group, advised the company.