27 August 2014 | News | By BioSpectrum Bureau
Medtronic acquires Sapiens for $200 million
Dr Lothar Krinke, vice president and general manager, brain modulation business, Medtronic
The acquisition of Sapiens SBS strengthens Medtronic's capabilities in an important, emerging frontier of medicine - the modulation of brain function.
"This acquisition broadens our neuroscience leadership position with innovative brain modulation technology that, along with our comprehensive portfolio of DBS solutions, may one day transform the way physicians are able to treat patients with neurodegenerative diseases like Parkinson's disease and essential tremor," said Dr Lothar Krinke, vice president and general manager, Brain Modulation business, Medtronic.
Sapiens, located in Eindhoven, is developing a DBS system that features an advanced DBS lead with 40 individual stimulation points. This advanced system is designed to allow more precise stimulation of the intended target in the brain and may potentially result in reduced procedure time and fewer stimulation-induced side effects.
Medtronic's press statement said that employees at the Eindhoven facility will continue to work toward bringing this technology to market.
In the future, the site will serve as a global R&D center for Medtronic's Neuromodulation business, complementing its existing R&D operations.
Medtronic and Sapiens SBS will work to finalize product development and begin clinical research to integrate these technologies into an expanded portfolio of DBS products within Medtronic's Neuromodulation business.
Mr Jan Keltjens, CEO, Sapiens SBS commented, "We are excited to join Medtronic, and look forward to collectively working to bring this and other novel technologies and therapies to neuromodulation patients worldwide that could benefit from them."
The transaction is expected to meet Medtronic's long-term financial metrics and does not impact fiscal year 2015 earnings guidance, said the company's statement.