Now-Ireland’s Medtronic ($MDT) said in a filing with the SEC that it is paying $500 million in U.S. income taxes on $9.8 billion in cash and investments that it is moving to the country from overseas subsidiaries. The move sets the stage for more M&A activity. After all, the U.S. is the capital of med tech innovation (if not manufacturing). Much to the dismay of the feds, the move demonstrates the benefits of tax inversion deals, like Medtronic’s $50 billion purchase of Covidien, under which the combined company renamed itself Medtronic PLC and transferred its corporate headquarters to Ireland.
Fox News – In a medical first, surgeons have used a robot to operate inside the human eye, greatly improving the accuracy of a delicate surgery to remove fine membrane growth on the retina. Such growth distorts vision and, if left unchecked, can lead to blindness in the affected eye. […]
CB Insights – As medical device companies gain traction, large corporates such as Medtronic, Boston Scientific, and Teleflex are competing in the race to acquire private medical device startups targeting neurosurgery, orthopedics, and cardiology, among other areas. […]