Perfusion Insider Fall 2015

Medtronic Completes Acquisition of Covidien

Medtronic completed the acquisition of Covidien on January 26, 2015, a significant milestone in the company's history. The customers, products and markets both companies serve are highly complementary. "Our extensive, innovative capabilities will allow us to strengthen our commitment to solving some of healthcare's biggest challenges, including the need to expand patient access, improve outcomes, and lower costs," said Omar Ishrak, Medtronic Chairman and Chief Executive Officer.

Since completion of the acquisition, Medtronic has initiated comprehensive integration plans. "Our first and highest priority is to preserve," explained Ishrak. "Both Medtronic and Covidien have consistently executed and met their individual growth commitments. We will focus on delivering on our commitments, minimizing unnecessary disruptions as we come together as one company."

Other acquisition priorities include:

  • Optimize projected cost synergies.
  • Accelerate potential growth opportunities.
  • Transform healthcare by innovating and developing new value-based offerings for the market.
  • Partner with key stakeholders across the global healthcare industry to drive new, transformative business models and solutions.

"We believe we have an opportunity to meet the universal needs of healthcare in a way no other company can," Ishrak said. "It's clear that this new Medtronic organization has incredible energy, ingenuity and commitment. I have tremendous confidence in our ability to execute our priorities and am excited about the potential for the collective talent and expertise of our new organization to live and fulfill the Medtronic Mission. Together, we can alleviate pain, restore health, and extend life for millions of people around the world."