Medtronic Acquires Medina Medical

Medtronic (Dublin, Ireland) has acquired Medina Medical (Menlo Park, CA, USA), a privately-held company that has developed a novel embolization framing coil for treating brain aneurysms.

Medtronic had previously invested in Medina Medical and held an ownership stake in the company prior to completion of the all-cash acquisition, which includes an initial payment of USD 150 million, with additional payments conditional upon achievement of key milestones. Additional financial terms were not disclosed. The Medina Medical product line will join the company’s neurovascular division within the restorative therapies group.

“Medtronic is committed to fighting stroke through the innovative therapies we bring to clinicians and patients. Medina Medical's breakthrough technology makes it a natural fit with our Neurovascular portfolio, further strengthening our hemorrhagic stroke portfolio,” said Brett Wall, president of the neurovascular division at Medtronic. “The Medina embolization device features advanced technology to treat cerebral aneurysms that we think can one day disrupt the coil market.”

“This acquisition offers Medina Medical a unique opportunity to bring together our breakthrough technologies with Medtronic's leading clinical, regulatory, market development, and commercial expertise,” said Erik Engelson, CEO of Medina Medical. “We look forward to working closely with Medtronic to provide expanded access and economic efficiencies to our clinical partners in fighting stroke—particularly aneurysms and hemorrhagic stroke.”

The Medina Embolization Device is an intrasaccular 3-D mesh implant that is packed into a brain aneurysm. The technology addresses clinical needs by unfolding a 3-D self-expandable mesh to provide a scaffold across the aneurysm neck that conforms to the shape of the aneurysm and reduces blood flow. The embolization device has received the European Community CE marking, but has not yet been approved by the [US] Food and Drug Administration (FDA) for commercial distribution.

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