In its second acquisition in just under a week, Dublin-based medical-device maker Medtronic has purchased Medina Medical, a California device company focused on aneurysm treatment.
Privately held Medina was acquired for an initial $150 million in cash, with the promise of additional funds once key milestones are achieved. The Medina Embolization Device is a 3-D mesh implant that fills the inside of a brain aneurysm, providing scaffolding across the aneurysm neck and conforming to its shape, thereby reducing blood flow.
The device, which will become a part of Medtronic's neurovascular division, has European Conformity, or CE Mark, authorization for commercial distribution in the European Union. It is not yet available for commercial distribution in the U.S.
Executives are betting that the device will one day disrupt current products on the market.