Medtronic to Buy Intersect ENT for $1.1B.

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Date: Sept-Oct 2021
From: Medical Product Outsourcing(Vol. 19, Issue 7)
Publisher: Rodman Publishing
Document Type: Article
Length: 538 words
Lexile Measure: 1600L

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Medtronic plc entered an agreement with Intersect ENT, a global ear, nose, and throat (ENT) medical technology leader dedicated to transforming patient care, in which Medtronic will acquire all outstanding shares of Intersect ENT for $28.25 per share in an all-cash transaction implying an enterprise value of approximately $1.1 billion. The boards of directors of both companies have unanimously approved the transaction.

Medtronic's acquisition of Intersect ENT expands the company's portfolio of products used during ear, nose, and throat procedures. The complementary product lines and customer base will further Medtronic's efforts to have a positive impact for patients who suffer from chronic rhinosinusitis (CRS). Intersect ENT's PROPEL and SINUVA sinus implants are clinically proven solutions that open sinus passageways and deliver an anti-inflammatory steroid to aid in healing. By combining these products with Medtronic's...

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Gale Document Number: GALE|A677878002