Medtronic To Acquire PEAK Surgical for $120M

Medtronic, Inc. MDT today announced that it has entered into a definitive agreement to acquire PEAK Surgical, Inc., a recognized leader in the emerging field of advanced energy surgical incision technology to broaden Medtronic Surgical Technologies' portfolio of innovative surgical products to meet customer and patient needs worldwide. The total value of the transaction is $120 million. Medtronic had previously invested in PEAK and currently holds an ownership stake in the company. Net of this ownership stake, the transaction value is approximately $105 million. PEAK's revenue is annualizing at approximately $20 million and is growing rapidly. PEAK Surgical, Inc. specializes in surgical instruments based on its proprietary PlasmaBlade® technology which represents an important advancement in advanced energy surgical technologies. The PEAK PlasmaBlade® consists of a family of disposable cutting devices with proprietary insulation technology that offers the exacting control of a scalpel and the bleeding control of traditional electrosurgery with minimal thermal tissue damage. PEAK's technology is cleared for use in a variety of settings, including Ear, Nose and Throat (ENT), plastic reconstructive, orthopaedic and general surgical applications. The addition of the PEAK PlasmaBlade® surgical solutions will help Medtronic serve doctors and patients and continue to fulfill the Medtronic mission of alleviating pain, restoring health and extending life.