Medtronic buys Cardiocom for $200M

Medtronic will pay $200 million to acquire a telehealth company whose products will be applied in the heart failure setting.

Minneapolis-based Medtronic said it completed its acquisition of Cardiocom, a company that provides products and services for remote monitoring and management of patients with chronic diseases. Medtronic described the acquisition as an opportunity to extend its reach into healthcare services, initially with a focus on heart failure.

Omar Ishrak, chairman and CEO of Medtronic, said the deal complements Medtronic’s plans to expand into broader healthcare services. The heart failure initiative is expected to integrate devices and software with the goal of improving care coordination and patient outcomes while lowering costs.