Medtronic Acquires CardioInsight Technologies

Medtronic (Dublin, Ireland) has acquired CardioInsight (Cleveland, OH, USA), developer of a new approach to mapping electrical disorders of the heart.

The CardioInsight ECVUE system is designed to noninvasively combine body surface electrical data with heart-torso anatomical data to provide simultaneous, multi-chamber, three dimensional (3D) maps of the heart’s electrical activity. The system uses a proprietary, disposable, multi-sensor vest to capture the electrical signals, while sophisticated software computes and visualizes epicardial 3D electroanatomic maps and virtual electrograms from the heart. The system has been used in more than 1,400 patients in the United States and Europe.

The CardioInsight product line will become part of the Cardiac Rhythm and Heart Failure division within the Cardiac and Vascular Group at Medtronic. The purchase was completed on a debt-free basis in a transaction valued at approximately USD 93 million; as part of the deal, Medtronic retired an outstanding loan to CardioInsight of USD 25 million. The purchase also includes performance-based contingent payments that may be considered post-closing. Investors in CardioInsight include Draper Triangle Ventures, Case Technology Ventures, and Jumpstart Ventures.

“This investment aligns with our goal to deliver breakthrough technologies for patients who have atrial fibrillation and other arrhythmias,” said Reggie Groves, vice president and general manager of the atrial fibrillation (AF) solutions business at Medtronic. “CardioInsight will broaden and enhance the existing AF Solutions program at Medtronic, and will provide meaningful clinical and economic solutions for patients, hospitals, physicians and payers.”

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