Medical-device manufacturer Medtronic has made another deal, this time announcing plans to spend $200 million in cash to acquire a Dutch developer of deep-brain stimulation technologies.
The proposed acquisition of Sapiens Steering Brain Stimulation, a privately held company based in Eindhoven, The Netherlands, would build out Medtronic's portfolio of neuromodulation products.
Minneapolis-based Medtronic said the deal is an example of the company's strategy to become the “partner of choice” to neurosurgeons. Sapiens' technologies, which are not approved by the Food and Drug Administration, are being developed with an aim to reduce procedure times and lessen the side effects associated with brain stimulation, the companies said in a release. A company spokesman said that it may take a number of years to complete clinical research and receive regulatory approvals for the Sapiens technology.