Dublin, Ireland-based Medtronic plc. announces that it has agreed to purchase Menlo Park, Calif.-based global ear, nose, and throat (ENT) medical technology provider Intersect ENT for $1.1 billion. Medtronic’s acquisition of Intersect ENT expands the company’s portfolio of products used during ear, nose, and throat procedures, officials say.
The complementary product lines and customer base will further Medtronic’s efforts to have a positive impact for patients who suffer from chronic rhinosinusitis (CRS), company officials add.
Intersect ENT’s PROPEL and SINUVA implants open sinus passageways and deliver an anti-inflammatory steroid to aid in healing. By combining these products with Medtronic’s navigation, powered instruments, and existing tissue health products, the company intends to offer a broader suite of solutions to assist surgeons treating CRS patients, they say.
“This acquisition directly aligns with our commitment to delivering continuous innovation that helps ENT patients,” says Vince Racano, president of the ENT business, which is part of Medtronic’s neuroscience portfolio. “Intersect ENT’s sinus implants are clinically proven to offer relief and healing to patients suffering from chronic rhinosinusitis. Combining this innovative technology with our established global presence and sales infrastructure will allow us to broaden our capabilities while expanding access to these valuable therapies.”
“This is an exciting day for patients suffering from CRS,” adds Thomas West, president and CEO of Intersect ENT. “After years of pioneering technology to help patients heal following sinus surgery, we welcome the integration of Intersect ENT’s portfolio into Medtronic. We are looking forward to the global impact we can make as part of Medtronic, bringing these essential products to more patients than ever before.”
