Medtronic To Buy Avenu Medical; Terms Not Disclosed - Quick Facts

(RTTNews) - Medical devices company Medtronic plc (MDT) announced Tuesday the planned acquisition of privately-held medical device company Avenu Medical that is focused on the endovascular (minimally invasive) creation of arteriovenous (AV) fistulae for patients with end-stage renal disease (ESRD) undergoing dialysis. Terms of the transaction were not disclosed.

Avenu's percutaneous fistula creation technology will strengthen the Medtronic Peripheral Vascular Access portfolio and reinforce Medtronic's commitment to improving outcomes for patients with end-stage renal disease.

The acquisition is expected to close in October, subject to the satisfaction of certain customary closing conditions. The acquisition of Avenu Medical is the sixth in a series of tuck in acquisitions that Medtronic has made in 2020. The transaction is expected to be immaterial to Medtronic's adjusted earnings per share in the first two fiscal years before turning accretive in fiscal year 2023.