Medtronic Buys Medical Visualization Company Visionsense for $65 Million
The medical device developer intends to integrate Israel-based Visionsense's operations into its own activities
Meir Orbach | 10:16 10.04.2018
Medical device maker Medtronic PLC is buying Israel-based medical visualization company Visionsense Ltd. for $65 million, two people familiar with the matter told Calcalist on condition of anonymity.
For daily updates, subscribe to our newsletter by clicking here.Visionsense will receive an upfront payment of $40 million and then $25 million according to milestones, these people said, adding that an additional $10 million is a possibility if certain unspecified milestones are met.
Medtronic intends to integrate the company's operations into its own activities, the people familiar with the matter said.Dublin-headquartered Medtronic is among the largest medical equipment developing companies in the world, reporting revenues of $29.7 billion and a GAAP net income of over $4 billion for 2017. In 2006 the company bought Israel-based MRI systems maker Odin Medical Technologies Ltd., and since 2016 it has invested $72 million in Israel-based surgical robots company Mazor Robotics Ltd.