Medtronic Looking to Beef Up With Acquisitions

Medronic CEO Art Collins repeated the medical device manufacturer’s desire for acquisitions and said the company is actively scouting strategic investments, Reuters News Service reported.
   
“It is highly likely and expected that we will continue to add growth platforms beyond the ones we have today,” said Collins, speaking last week to a group of analysts in New York and added the company has a “very active scouting program.”
   
In general, he said he expects to see the pace of health-care mergers and acquisitions pick up within the next several years, and suggested that Medtronic will be a part of that trend.
   
“We certainly have the financial flexibility to make strategic moves, but we will do this in a very disciplined manner,” he said.
   
Collins said the company’s products are underpenetrated in markets outside the U.S. and he sees new opportunities for expanding is products in foreign markets.     The Minneapolis, Minnesota-based company makes a host of devices to treat heart disease, diabetes and neurological disorders.
   
“We are upping the game in markets outside the United States,” Collins told analysts.
   
Medtronic Chief Operating Officer Bill Hawkins elaborated on the company’s plans, saying Medtronic sees opportunity for expanding its business in Japan and in China.