Medtronic Makes an Acquisition

Medtronic (NYSE: MDT  ) is now larger by one asset. The company announced it closed the purchase of Cardiocom, a privately held firm it describes as a "developer and provider of integrated telehealth and patient services for the management of chronic diseases." Medtronic paid $200 million in cash for the company.

The transaction is part of Medtronic's attempts to broaden its selection of medical device products. Cardiocom offers a variety of remote patient monitoring devices.

In the press release announcing the news, Medtronic said it expects the net impact from the purchase to be neutral in its fiscal 2014 and thereafter "to be consistent with the company's disciplined focus on long-term returns."

At the end of April, the firm had $860 million in cash.

Read/Post Comments (0) | Recommend This Article (1)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2591631, ~/Articles/ArticleHandler.aspx, 5/25/2015 11:42:21 AM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...