Medtronic Completes Acquisition of Invatec
Medtronic intends to build on Invatec’s legacy of innovation through collaboration to improve and expand treatment options for patients with cardiovascular disease.
The newly added business will be led by general manager, Ross Allen, a 19-year veteran of Medtronic with leadership experience across four divisions, most recently as vice president of finance for the CardioVascular business.
Invatec’s founders will stay with the new business in senior leadership positions: Andrea Venturelli as vice president of research and development and chief technology officer; and Stefan Widensohler as vice president of global sales.
Medtronic plans to maintain Invatec’s European operations in order to stay close to the existing core customer base in Europe, the source of many collaborative innovations that have advanced the treatment of cardiovascular disease. To ensure the continuity of these operations, Medtronic purchased Invatec facilities in Brescia, Italy (near Milan) and the lease on an existing facility in Frauenfeld, Switzerland (near Zurich) has been extended.
Scott Ward, president of the CardioVascular business and senior vice president at Medtronic, said: “With this acquisition, Medtronic is enhancing its international presence by further developing our global business with additions to our European operations.
“Medtronic’s acquisition of Invatec will accelerate the growth of our CardioVascular business, adding important new coronary and peripheral vascular products to our current offering.”
Will the acquisition help Medtronic in expanding product offering?
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