Medtronic acquires CardioInsight and expands its AF business

Medtronic acquired CardioInsight Technologies in a debt-free deal announced on June 19 that increases Medtronic’s focus on atrial fibrillation and other arrhythmias.

CardioInsight’s ecVUE system is a noninvasive cardiac system that maps electrical disorders of the heart. The device received FDA 510(k) clearance in November 2014.

In a news release, Medtronic said the ecVUE system had been used in more than 1,400 patients in the U.S. and Europe. CardioInsight will join Medtronic’s atrial fibrillation solutions business in its cardiac rhythm and heart failure division. The deal was valued at approximately $93 million.

For Medtronic’s most recent quarter, revenue for its cardiac rhythm and heart failure division increased 11 percent and revenue for its atrial fibrillation solutions business increased more than 30 percent. The company wrote that its atrial fibrillation business growth was driven by its Arctic Front Advance CryoAblation System, a second-generation cryoballoon for paroxysmal atrial fibrillation.