M&A Deal Summary

Medtronic Acquires Corventis

On May 21, 2014, Medtronic acquired medical products company Corventis for 150M USD

Acquisition Highlights
  • This is Medtronic’s 27th transaction in the Medical Products sector.
  • This is Medtronic’s 25th largest (disclosed) transaction.
  • This is Medtronic’s 28th transaction in the United States.
  • This is Medtronic’s 12th transaction in California.

M&A Deal Summary

Date 2014-05-21
Target Corventis
Sector Medical Products
Buyer(s) Medtronic
Deal Type Add-on Acquisition
Deal Value 150M USD

Target

Corventis

San Jose, California, United States
website
Corventis, Inc. is a provider of wireless technologies products for cardiac diseases.

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Buyer(S) 1

Buyer

Medtronic

Dublin, Ireland

website


Category Company
Founded 1949
Sector Medical Products
Employees90,000
Revenue 31.7B USD (2022)
DESCRIPTION
Medtronic's operational headquarters in Fridley, Minnesota.
Medtronic's operational headquarters in Fridley, Minnesota.

Medtronic is a global medical technology company whose products aim to alleviate pain, restore health, and extend life. Medtronic serves hospitals, physicians, clinicians, and patients in approximately 160 countries worldwide. Medtronic was founded in 1949 and is based in Dublin, Ireland with its operational headquarters in Fridley, Minnesota.


DEAL STATS #
Overall 31 of 58
Sector (Medical Products) 27 of 51
Type (Add-on Acquisition) 31 of 56
State (California) 12 of 21
Country (United States) 28 of 44
Year (2014) 2 of 6
Size (of disclosed) 25 of 36
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-01-06 TYRX

Monmouth Junction, New Jersey, United States

TYRX is a certified medical device manufacturer of drug-device combination products utilizing novel polymer technology, including a world-wide license from Rutgers, The State University of New Jersey, covering a broad range of resorbable materials and drug delivery technology.

Buy $160M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-06-15 Covidien

Dublin, Ireland

Covidien plc is a global healthcare technology and medical supplies provider. Covidien was formed as a spin-off from Tyco in 2007 and is based in Dublin, Ireland.

Buy $42.9B