Sam Brusco, Associate Editor05.16.22
Medtronic has completed the approximately $1 billion deal for ear, nose, and throat firm Intersect ENT, gaining products used in sinus procedures to improve post-op outcomes and treat nasal polyps. The deal began last August.
Medtronic acquired Intersect ENT’s Propel and Sinuva sinus implant product lines. Intersect ENT employees will be joining Medtronic through this acquisition. Former Intersect ENT brand Fiagon was divested at the deal’s close, not included in the acquisition deal.
The products acquired will further Medtronic’s efforts to treat chronic rhinosinusitis (CRS). The Propel bioabsorbable, steroid-eluting implant for sinus patients are inserted after endoscopic sinus surgery to maintain patency and provide localized steroid delivery. Sinuva is also a bioabsorbable, steroid-eluting plant, but for nasal polyp treatment in ethmoid sinus surgery patients.
"By combining Intersect ENT's groundbreaking localized drug delivery products with the leading navigation and powered instruments of Medtronic, we can now equip physicians with the right tools for many unique patient needs," Vince Racano, president of Medtronic’s ENT business told the press. "This acquisition expands our portfolio, and we can now provide a more comprehensive continuum of care for CRS patients while supporting the bold ambition of Medtronic to be the global healthcare technology leader."
"We believe the market leadership and global footprint of Medtronic, coupled with enterprise resources to fuel pipeline innovation and commercialization, will advance our reach to customers and patients more quickly and serve our shared vision of improving patient access, outcomes, and satisfaction for millions of people around the world who suffer from ENT diseases," said Thomas West, president and CEO of Intersect ENT. "We are thrilled to combine these two companies as we now officially work together to bring more ENT options to patients. I am especially proud of our dedicated Intersect ENT employees, whose entrepreneurial spirit and passion for innovation have driven our ability to achieve this milestone."
Medtronic acquired Intersect ENT’s Propel and Sinuva sinus implant product lines. Intersect ENT employees will be joining Medtronic through this acquisition. Former Intersect ENT brand Fiagon was divested at the deal’s close, not included in the acquisition deal.
The products acquired will further Medtronic’s efforts to treat chronic rhinosinusitis (CRS). The Propel bioabsorbable, steroid-eluting implant for sinus patients are inserted after endoscopic sinus surgery to maintain patency and provide localized steroid delivery. Sinuva is also a bioabsorbable, steroid-eluting plant, but for nasal polyp treatment in ethmoid sinus surgery patients.
"By combining Intersect ENT's groundbreaking localized drug delivery products with the leading navigation and powered instruments of Medtronic, we can now equip physicians with the right tools for many unique patient needs," Vince Racano, president of Medtronic’s ENT business told the press. "This acquisition expands our portfolio, and we can now provide a more comprehensive continuum of care for CRS patients while supporting the bold ambition of Medtronic to be the global healthcare technology leader."
"We believe the market leadership and global footprint of Medtronic, coupled with enterprise resources to fuel pipeline innovation and commercialization, will advance our reach to customers and patients more quickly and serve our shared vision of improving patient access, outcomes, and satisfaction for millions of people around the world who suffer from ENT diseases," said Thomas West, president and CEO of Intersect ENT. "We are thrilled to combine these two companies as we now officially work together to bring more ENT options to patients. I am especially proud of our dedicated Intersect ENT employees, whose entrepreneurial spirit and passion for innovation have driven our ability to achieve this milestone."