Intelect Medical

Devices & Diagnostics

Cleveland Clinic neuromodulation device spinoff close to acquisition

IntElect Medical, developing new innovative medical devices in the neuromodulation space, will be sold by early 2011, according to several sources familiar with the deal. Investors in the Cleveland Clinic spinoff include devicemakers Boston Scientific and Greatbatch. But it's unlikely that either is the buyer. IntElect's exit would also be a gigantic win for Cleveland Clinic Innovations, the hospital's commercialization arm, as well as anyone at Innovations who might have a stake in the company.