Medtronic (NYSE:MDT) said today that it paid $93 million for CardioInsight Technologies and its heart-mapping technology.
Cleveland-based CardioInsight makes the ECVue, a non-invasive electrocardiographic mapping device that uses body surface electrical data and anatomical data to reconstruct and display 3-D maps and “other useful measures” of the heart’s electrical activity, Medtronic said.
The deal includes a $75 million cash payment and a $25 million loan, according to Fridley, Minn.-based Medtronic.
“This investment aligns with our goal to deliver breakthrough technologies for patients who have atrial fibrillation and other arrhythmias,” atrial fibrillation solutions general manager Reggie Groves said in prepared remarks. “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.”
Medtronic said it doesn’t expect the acquisition to affect its earnings.
Back in 2013, CardioInsight raised $15 million to back European trials of the ECVue device.
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