Medtronic has announced the acquisition of the medical technology firm Lazarus Effect in an all-cash transaction of $100 million (66.01 million pounds).
The California-based medical device company focuses on the development of acute ischaemic stroke products to facilitate the capture and removal of clots.
“Medtronic has acquired Lazarus Effect, a medical device company focused on acute ischaemic stroke products.“
Its key offering is the Lazarus Cover device, an innovative differentiating technology that complements Medtronic's Solitaire stent retriever platform. It features a novel nitinol mesh cover that folds over a stent retriever device during clot retrieval and wraps the stent with the clot inside.
The device obtained CE Mark authorisation in November 2014 for commercial distribution in the EU, with the US regulatory approval process pending.
Brett Wall, president of the neurovascular division within Medtronic's restorative therapies group, said: "With this acquisition, Medtronic reinforces its commitment to providing innovative solutions to clinicians and patients fighting stroke."
This follows the company's acquisition of Medina Medical and Twelve last month.See all the latest jobs in Medical Devices