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Medtronic to Acquire Smith & Nephew's Gynecology Portfolio for $350M BY ANDREW VAHRADIAN, MAY 19, 2016

Medtronic entered into an agreement to acquire Smith & Nephew's gynecology (GYN) portfolio for approximately $350 million.

Under the terms of the transaction, Medtronic acquires Smith & Nephew's TRUCLEAR System, a platform used to remove abnormal uterine tissue like polyps and fibroids. The system utilizes a minimally invasive procedure that can be performed as an outpatient procedure. TRUCLEAR serves as a less invasive treatment than other surgical procedures like hysterectomies and therefore aims to improve options for women with abnormal uterine bleeding (AUB).

The deal expands and strengthens Medtronic's minimally invasive surgical offerings with a complementary portfolio of global GYN products. Management feels this acquisition will help the company innovate in the marketplace and develop further therapies and solutions that enhance gynecology care.

The acquisition is anticipated to close 2Q:16 - 3Q:16.

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