Medtronic Acquires Hypertension Device Used to Deaden Nerves In the Kidney Area to Control Blood Pressure-Acquisitions Seen As P
Posted Nov 25 2010 2:03am
Back in December of 2009 I covered the clinical trial process that is ongoing through this procedure to basically create a cure for high blood pressure with some patients, thus eliminating the need for medications. Medtronic has now purchased this company.
RDN is the name of the procedure that is done with a catheter and they delivery treatments to nerves of the renal system. A proprietary algorithm adjusts the procedure to be customized for each patient and there is no implant with this procedure. The procedure is already being performed in Europe. As mentioned below Medtronic and other companies are looking for growth via acquisitions as some device markets are falling flat or with little increase. BD
On Monday night, Medtronic Inc. announced it was spending $800 million to acquire a California company that's working on a unique treatment for high blood pressure. Rivals Boston Scientific Corp. and St. Jude Medical Inc. have recently brokered big-ticket deals, too.
The deal making frenzy is due, in part, to slowing core markets in med-tech. In Medtronic's case, sales of key spine surgery devices and heart defibrillators have flattened in the past year.
Given the trends, Wedbush Securities analyst Phillip Nalbone said large med-tech players like Medtronic "have no choice -- they better be out there buying things rapaciously because it's the only opportunity for growth. The harsh reality is that there is very little growth and maybe no growth left in all the big, traditional categories like pacemakers, defibrillators, drug-coated stents and spine [products]."
Medtronic said Monday that its acquisition of Ardian Inc. gives it access to "one of the most exciting growth markets in medical devices." Ardian is selling its blood pressure device in Europe, but not yet in the United States.