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Medtronic completes acquisition of Visualase

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Medtronic announced that it has completed the acquisition of Visualase, the developer and marketer of a U.S. Food and Drug Administration-approved MRI-guided laser and image-guided system for minimally invasive neurosurgeries.

Under the acquisition, Medtronic will add Visualase’s laser ablation system to its current portfolio of therapies for the treatment of neurological conditions, in addition to integrating the technology into its broader neuroscience offerings, according to a company press release.

The all-cash transaction of $105 million includes an up-front payment of $70 million, with the remaining $35 million to be paid upon the achievement of certain milestones.

Prior to the completion of this transaction, Medtronic had invested in Visualase and held an ownership stake in the company.

Medtronic expects the net impact from this transaction to be neutral to fiscal year 2015 earnings and accretive thereafter, according to the press release.

Reference: www.medtronic.com