MedCity News May 13, 2022
Michael Schroeder

To get approval for the deal, Medtronic agreed to sell an Intersect subsidiary to soothe the FTC’s concerns.

It has in some ways been a long time coming, but Medtronic‘s $1.1 billion acquisition of medtech company Intersect ENT is now complete, the Dublin-based device maker announced Friday.

Earlier this week, the FTC announced that Medtronic would have to divest an Intersect subsidiary—selling surgical navigation company Fiagon to the biotech firm Homeostatis—to get approval for the acquisition. Intersect, which is based in Menlo Park, California, is focused on advancing ear, nose and throat treatment. But the FTC expressed concerns that Medtronic’s acquisition of the company could lead to higher prices and reduced innovation; and it required Medtronic to offload Fiagon no...

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