Medtronic Moves into Mitral Valve Replacement

This morning, Medtronic plc (NYSE: MDT) announced it has agreed to acquire privately-held device company Twelve, Inc., based in Redwood City, California. Twelve has been developing a transcatheter mitral valve replacement device (TMVR) which is just beginning its first clinical pilot study, "Evaluation of Safety and Performance of the Twelve Transcatheter Mitral Valve Replacement System in Patients With Severe, Symptomatic Mitral Regurgitation." Medtronic "has agreed to pay up to $458 million for Twelve including $408 million at closing and $50 million on achievement of CE Marking.
Source: News from Angioplasty.Org - Category: Cardiology Source Type: news