M&A Deal Summary

Medtronic Acquires HeartWare International

On June 27, 2016, Medtronic acquired medical products company HeartWare International for 1.1B USD

Acquisition Highlights
  • This is Medtronic’s 41st transaction in the Medical Products sector.
  • This is Medtronic’s 5th largest (disclosed) transaction.
  • This is Medtronic’s 37th transaction in the United States.
  • This is Medtronic’s 2nd transaction in Massachusetts.

M&A Deal Summary
Date 2016-06-27
Target HeartWare International
Sector Medical Products
Buyer(s) Medtronic
Deal Type Add-on Acquisition
Deal Value 1.1B USD
Advisor(s) Perella Weinberg Partners (Financial)
Shearman & Sterling (Legal)

Target

HeartWare International

Framingham, Massachusetts, United States
HeartWare International, Inc. develops and manufactures miniaturized implantable heart pumps, or ventricular assist devices, to treat patients around the world suffering from advanced heart failure. Dedicated to developing new, minimally invasive technologies to revolutionize the treatment of patients with end-stage heart failure, HeartWare has multiple technologies in development to offer progressively less-invasive mechanical circulatory support options. HeartWare's corporate headquarters are located in Framingham, Massachusetts, and the company has technology, operations, manufacturing and distribution centers in Miami Lakes, Florida; Arden Hills, Minnesota; and Hannover, Germany.

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Buyer(S) 1

Buyer

Medtronic

Dublin, Ireland
Category Company
Founded 1949
Sector Medical Products
Employees95,000
Revenue 32.4B USD (2024)
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. It 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 46 of 59
Sector (Medical Products) 41 of 52
Type (Add-on Acquisition) 44 of 57
State (Massachusetts) 2 of 3
Country (United States) 37 of 44
Year (2016) 3 of 3
Size (of disclosed) 5 of 36
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-05-18 Smith & Nephew - Gynecology Business

London, United Kingdom

Smith & Nephew - Gynecology Business is a medical technology platform used to remove abnormal uterine tissue such as polyps and fibroids.

Buy $350M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-04-18 Medtronic - Patient Care Deep Vein Thrombosis & Nutritional Insufficiency Businesses

United States

Medtronic - Patient Care, Deep Vein Thrombosis & Nutritional Insufficiency Businesses encompass 23 product categories across multiple market settings, including numerous industry-leading brands, such as Curity, Kendall, Dover, Argyle and Kangaroo, which are used in nearly every U.S. hospital.

Sell $6.1B
Mergr

Product

Company

Legal