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Medtronic To Acquire Intersect Ent

Aug 07, 2021•over 4 years ago

Acquiring Company

Mazor Robotics

Acquired Company

Intersect ENT

MinneapolisBiotechnologyHealth Care

Description

Medtronic plc (NYSE:MDT), the global leader in medical technology, today announced that it has entered into a definitive agreement with Intersect ENT (NASDAQ: XENT), a global ear, nose, and throat (ENT) medical technology leader dedicated to transforming patient care, in which Medtronic will acquire all outstanding shares of Intersect ENT for $28.25 per share in an all-cash transaction implying an enterprise value of approximately $1.1 billion. The boards of directors of both companies have unanimously approved the transaction.

Company Information

Company

Mazor Robotics

Location

Minneapolis, Minnesota, United States

About

Mazor Robotics, a medical device company headquartered in Israel, was focused on developing robotics for spinal surgical procedures. It was committed to advancing the field of surgical robotics and had a strong reputation for innovation in the medical technology industry.

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M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed