M&A Deal Summary

Medtronic Acquires Covidien

On June 15, 2014, Medtronic plc acquired medical products company Covidien plc for 42.9B USD

Acquisition Highlights
  • This is Medtronic’s 28th transaction in the Medical Products sector.
  • This is Medtronic’s 1st largest (disclosed) transaction.
  • This is Medtronic’s 1st transaction in Ireland.

M&A Deal Summary

Date 2014-06-15
Target Covidien plc
Sector Medical Products
Buyer(s) Medtronic plc
Deal Type Add-on Acquisition
Deal Value 42.9B USD
Advisor(s) Goldman Sachs Investment Banking Division (Financial)
Wachtell, Lipton, Rosen & Katz LLP (Legal)

Target

Covidien plc

Dublin, Ireland
website
Covidien office in Plymouth, Minnesota.
Covidien office in Plymouth, Minnesota.
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.

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Buyer(S) 1

Buyer

Medtronic plc

Dublin, Ireland

website


Category Company
Founded 1949
SectorMedical Products
Employees90,000
Revenue 28.9B USD (2020)
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 32 of 57
Sector (Medical Products) 28 of 50
Type (Add-on Acquisition) 32 of 55
Country (Ireland) 1 of 1
Year (2014) 3 of 6
Size (of disclosed) 1 of 36
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-05-21 Corventis, Inc.

San Jose, California, United States

Corventis, Inc. is a provider of wireless technologies products for cardiac diseases.

Buy $150M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-07-28 Visualase, Inc.

Houston, Texas, United States

Visualase, Inc. is a developer and marketer of an FDA-approved MRI-guided laser and image guided system for minimally invasive neurosurgeries, including surgical thermal ablation.

Buy $105M