Medtronic finalises Invatec takeover

Medtronic has completed its acquisition of Invatec in a move designed to expand its offerings in the cardiovascular sector, both in Europe and other territories.

The company has taken control of the cardiovascular medical technology specialist and two of its affiliates, the polymer technology company Fogazzi and the German firm Krauth Cardio-Vascular.

Following the conclusion of the deal, Medtronic stated that it plans to maintain Invatec’s European operations so as not to disrupt its relationship with local clients, while a number of Invatec facilities on the continent have also been purchased.

Scott Ward, president of the cardiovascular business and senior vice-president at Medtronic, expressed confidence that the deal will enhance the company’s international presence.

He added: “Medtronic’s acquisition of Invatec will accelerate the growth of our cardiovascular business, adding important new coronary and peripheral vascular products to our current offering.”

Earlier this month, the company was presented with a 2010 Medical Device Excellence Award in honour of its design work on the Hydrodebrider endoscopic irrigation system.