A former executive at Plymouth, Minnesota-based ATS Medical (now part of Medtronic) has taken a position at a California medical device startup. The company — Santa Rosa-based Direct Flow Medical — announced that David Elizondo is the company’s new chief development officer. Previously, Elizondo was vice president of research & development, and general manager of […]
Medtronic Inc. (NYSE:MDT) is a company in transition as it seeks higher growth in China and new therapies like transcatheter heart valves while trying to "protect and optimize" its core cardiac rhythm disease management (CRDM) business. On Tuesday, the Fridley, Minnesota, medical device maker said its profits sank 34 percent in the fiscal second quarter from a year ago. So it lowered its fiscal 2011 profit and sales forecasts.
As technology advances, AI-powered tools will increasingly reduce the administrative burdens on healthcare providers.
On Wall Street, you're only as good as your next acquisition. Try telling that to Medtronic Inc. (NYSE:MDT). Over the past two years, the Fridley, Minnesota, medical device maker purchased nine companies: $700 million for CoreValve Inc., $370 million for ATS Medical Inc., $123 million for Osteotech Inc. -- all small, "tuck-in" deals. The time is ripe for a big acquisition.
When you're the richest kid on the block, it's easy to make friends. For Medtronic Inc. (NYSE: MDT), those friends happen to be investment bankers and venture capitalists. And the world's largest medical device maker has been on an acquisition tear of late, using its considerable cash hoard to buy nine companies since 2009.
The shareholders of cardiovascular technology firm ATS Medical (NASDAQ: ATSI) voted in favor of the company’s $370 million sale to neighboring device giant Medtronic Inc. (NYSE: MDT). About 79 percent of the company’s outstanding shares were voted, with about 95 percent of those in approval of the $4-per-share deal, according to a statement from Plymouth, […]
If the United States truly wants to boost the economy and narrow its ginormous trade deficit, then medical technology would seem like a good place to start. Minnesota’s bread-and-butter industry generated a $5.4 billion trade surplus last year, one of the few American industries to do so. Which is why Obama administration officials visited Medtronic […]
The progress in artificial intelligence (AI) is reshaping patient care, across various dimensions, from facilitating faster discharge to curating treatment plans and suggesting lifestyle changes.
Given Wall Street’s turmoil of late, it’s not too surprising that buyers would search for bargains, especially struggling medical device companies with promising technology and awful balance sheets. Case in point: Medtronic Inc.’s (NYSE: MDT) $370 million purchase of ATS Medical Inc. in Plymouth, Minn. But ev3 Inc. (NASDAQ: EVVV) and Virtual Radiological Corp. (NASDAQ: […]
There was every reason to expect Virtual Radiologic Corp. (NASDAQ: VRAD) to become Minnesota’s next medical technology star. The company, based in Eden Prairie, was one of the last local firms to go public, raising $68 million from its initial public offering in November 2007. Virtual was one of only two national players to dominate […]
Ernie Andberg has a little more free time on his hands these days. The long-time “emerging medical device companies” equity analyst for Feltl & Co. in Minneapolis has not seen a lot of companies emerging lately. In fact, they’ve been disappearing all together. Case in point: Medtronic Inc.’s (NYSE: MDT) deal last week to acquire […]
ATS Medical Inc. (NASDAQ:ATSI) stock has been a dog for quite a while, never rising above $5 a share since 2004. Yet some investors stand to profit handsomely from Medtronic Inc.’s (NYSE:MDT) proposed $370 million acquisition of the company. In 2007, ATS Medical, desperate for cash, sold stock to San Francisco venture capital firm Alta […]
Closing cancer health equity gaps require medical breakthroughs made possible by new funding approaches.
Medtronic Inc. (NYSE: MDT) said Thursday that it will acquire ATS Medical Inc. (NASDAQ: ATSI) for $370 million in cash and debt, a move that further expands the medical device’s giant foray into the fast growing market for products that treat structural heart disease. Medtronic, based in Fridley, Minnesota, will pay $4 for each share […]
Cardiology device maker ATS Medical Inc. (Nasdaq: ATSI) reported the first commercial implant in China of its stentless heart valve. The procedure marks an important milestone for ATS as the company tries to strengthen its position in China, which has the potential to be the largest valve replacement market in the world within the next […]
Cardiology device maker ATS Medical Inc. has received Canadian regulatory approval to sell a heart valve repair product line. ATS’ Simulus product line includes plastic bands that can be used to repair the mitral valve, which is located between the heart’s left chambers and allows blood flow in, and the tricuspid valve, which prevents the […]
The GAMC program provides health insurance to roughly 35,000 poor single adults at any given time, many of whom suffer from mental illness and chemical addiction.
That bodes well for Minnesota's publicly traded medical device companies, including St. Jude Medical Inc., SurModics Inc. and Rochester Medical Corp., which were among the first to begin reporting fourth-quarter and yearly results last week.