Medtronic plc (Dublin, Ireland) signed a definitive agreement to acquire Twelve Inc (Redwood City, CA) for up to $458 million, including $408 million at closing and $50 million on achievement of CE marking. Twelve Inc is a privately held medical device company working to develop a transcatheter mitral valve replacement (TMVR) device. Medtronic will manage the Twelve product line as part of its Coronary & Structural Heart division within the Cardiac and Vascular Group. The cash- and debt-free transaction is subject to customary closing conditions. It is expected to close in October 2015.
Market Pulse transactions shown herein are provided as a matter of public record. These transactions have been compiled from press releases, corporate announcements and other public sources to provide an overview of acquisition and merger activities within the healthcare and life sciences sectors.