Medtronic Mergers and Acquisitions Summary

Medical Products Company

Medtronic has acquired 59 companies, including 21 in the last 5 years. A total of 15 acquisitions came from private equity firms. It has also divested 4 assets.

Medtronic’s largest acquisition to date was in 2014, when it acquired Covidien for $42.9B. It’s largest disclosed sale occurred in 2017, when it sold Medtronic - Patient Care Deep Vein Thrombosis & Nutritional Insufficiency Businesses to Cardinal Health for $6.1B. Medtronic has acquired in 14 different US states, and 8 countries. The Company’s most targeted sectors include medical products (88%) and healthcare services (8%).

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M&A Summary

  • M&A Total Activity60
    • M&A Buy Activity56
    • M&A Sell Activity4
  • Total Sectors Invested 5
  • Total Countries Invested 8
  • M&A Buy/Sell Connections 18
  • M&A Advisors 11

Medtronic plc

20 On Hatch, Lower Hatch Street,
Dublin,
Ireland,
353 1 438 1700
www.medtronic.com

Medtronic plc 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.


M&A Summary

Buy vs Sell

Year ≤ '15 '16 '17 '18 '19 '20 T
Buy (2.6/yr) # 43 3 1 2 3 4 56
vol $55.0B $1.5B $45M $1.6B $58.2B
Sell (0.4/yr) # 2 - 1 - 1 - 4
vol $547M $6.1B $6.6B
  60

Most Recent M&A

Company Date Value Type
Avenu Medical, Inc. 2020-09-30 - Add-on Acquisition
San Juan Capistrano, California · www.avenumedical.com
Medicrea International SA 2020-07-15 - Add-on Acquisition
Rillieux-la-Pape, France · www.medicrea.com
Digital Surgery 2020-02-13 - Add-on Acquisition
London, United Kingdom · www.digitalsurgery.com
Stimgenics LLC 2020-01-08 - Add-on Acquisition
Bloomington, Illinois · www.cmocro.com
Klue, Inc. 2019-12-17 - Add-on Acquisition
Vancouver, British Columbia · www.klue.com
Osteotech, Inc. 2019-10-30 - Divestiture
Eatontown, New Jersey · www.osteotech.com
Titan Spine LLC 2019-05-09 - Add-on Acquisition
Mequon, Wisconsin · www.titanspine.com
EPIX Therapeutics, Inc. 2019-01-24 - Add-on Acquisition
Santa Clara, California
Nutrino, Inc. 2018-11-21 - Add-on Acquisition
Tel Aviv, Israel · www.nutrinohealth.com
Mazor Robotics Ltd. 2018-09-20 1.6B USD Add-on Acquisition
Caesarea, Israel · www.mazorrobotics.com
View All >>

Business Unit M&A

Company Acquired Add-On/Sale Date #
Ardian, Inc. 2011-01-13 CiToxLAB Group 2019-02-13 1
Mountain View, California · www.ardian.com Cedex, France · www.citoxlab.com
HeartWare International, Inc. 2016-06-27 Valtech Cardio Ltd. 2016-11-28 1
Framingham, Massachusetts · www.heartware.com Yehuda, Israel · www.valtechcardio.com
Covidien plc 2014-06-15 Covidien - Stellarex(TM) Drug Coated Balloon 2014-11-02 1
Dublin, Ireland · www.covidien.com , United States
Covidien plc 2014-06-15 Sapheon, Inc. 2014-08-28 2
Dublin, Ireland · www.covidien.com Morrisville, North Carolina · www.sapheoninc.com
Covidien plc 2014-06-15 Reverse Medical Corp. 2014-08-22 1
Dublin, Ireland · www.covidien.com Irvine, California · www.reversemed.com

M&A by Sector

Sector Buy # Value Sell # Value
Medical Products 49 (88%) 56.7B (97%) 3 (75%) 6.6B (100%)
Healthcare Services 4 (7%) 1.4B (2%) - -
Life Science 1 (2%) 123M (< 1%) 1 (25%) -
Internet Software and Services 1 (2%) - - -
Software 1 (2%) - - -
Total 56 $58.2B 4 $6.6B

By Geo

State/Country Buy Value Sell Value
United States 42 12.2B 4 6.6B
  California 20 7.4B - -
  Minnesota 6 690M - -
  Washington 2 805M 1 487M
  New Jersey 2 283M 1 -
  Tennessee 2 - - -
  Massachusetts 2 1.1B - -
  Wisconsin 1 - - -
  Texas 1 105M - -
  Pennsylvania 1 500M - -
  Ohio 1 93M - -
  New Hampshire 1 525M - -
  Illinois 1 - - -
  Florida 1 - - -
Israel 3 2.0B - -
United Kingdom 3 460M - -
Canada 2 380M - -
  Quebec 1 380M - -
  British Columbia 1 - - -
France 2 - - -
Italy 2 - - -
Germany 1 200M - -
Ireland 1 42.9B - -
Domestic 1 (2%) 42.9B (74%) - -
Cross-border 55 (98%) 15.3B (26%) 4 (100%) 6.6B (100%)
Total 56 $58.2B 4 $6.6B

Top M&A Advisors

Financial Deals
Goldman Sachs Investment Banking Division
3
J.P. Morgan Securities LLC
1
Bank of America Merrill Lynch (BofA Securities)
1
Legal Deals
Ropes & Gray LLP
2
Cleary Gottlieb Steen & Hamilton LLP
2
Dorsey & Whitney LLP
1

Deal Values

buy # Total
> $1B 4 $49.5B
$100M to $1B 25 $8.2B
< $100M 6 $433M
TOTAL $58.2B
Largest Covidien plc
$42.9B (2014-06-15)
sell # Total
> $1B 1 $6.1B
$100M to $1B 1 $487M
< $100M 1 $60M
TOTAL $6.6B
Largest Medtronic - Patient Care, Deep Vein Thrombosis & Nutritional Insufficiency Businesses
$6.1B (2017-04-18)

M&A Connections

Deals %
Acquired from
PE Firm(s)
94%
15 94%
Strategic(s)
6%
1 6%
Divested to
PE Firm(s)
25%
1 25%
Strategic(s)
75%
3 75%

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