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August 30, 2015
Medtronic Acquires Medina Medical
August 31, 2015—Medtronic plc announced it has acquired Medina Medical, a privately held medical device company focused on commercializing treatments for vascular abnormalities of the brain, including cerebral aneurysms. Medina Medical, which is based in Menlo Park, California, will be reported as part of the Neurovascular division within Medtronic’s Restorative Therapies Group.
According to Medtronic, the Medina embolization device is an intrasaccular, three-dimensional mesh implant that fills the inside of a brain aneurysm. This mesh provides a scaffold across the aneurysm neck, conforms to the shape of the aneurysm, and reduces blood flow. The Medina embolization device has received CE Mark approval for commercial distribution in the European Union. It is not available for commercial distribution in the United States.
Medtronic stated that the all-cash transaction included an initial payment of $150 million plus additional payments upon achievement of key milestones. Medtronic had previously invested in Medina Medical and held an ownership stake in the company before completion of the acquisition.
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