07.29.15
Dublin, Ireland-based Medtronic plc has inked a deal to acquire RF Surgical Systems Inc., a Carlsbad, Calif.-based medical device firm that makes technology for the detection and prevention of retained surgical devices. The deal is valued at approximately $235 million, but additional terms of the transaction were not disclosed.
Despite rigorous surgical sponge counting protocols and medical society-driven awareness efforts, surgical items occasionally are left inside patients after wound closure. A sponge, gauze or towel left inside a patient may require additional X-rays and corrective surgical procedures to remove the forgotten items. Left untreated, retained surgical items could cause serious and life-threatening issues such as intra-abdominal abscess, intestinal fistula or obstruction, perforated colon, hemorrhaging or infection.
The RF Surgical system is designed to be used as an adjunct to manual counting methods to help prevent surgical sponge-related “never events,” which are serious, largely preventable, and harmful clinical events. The proprietary detection system uses a low radio frequency (RF) signal to track and detect surgical gauze, sponges and towels (embedded with a RF tag) through blood, dense tissue and bone. The technology aims to reduce patient complications due to surgery, lessen unnecessary procedures, and increase efficiencies within the operating room.
“Patients are our priority. Improving patient safety and outcomes is our daily focus, which directly aligns with the RF Surgical technology,” said Chris Barry, president of the surgical innovations business within the Minimally Invasive Therapies Group at Medtronic.
“As we strive to make the RF Surgical technology the global standard of care, we look forward to the innovation opportunity afforded by our combined capabilities,”said John T. Buhler, CEO of RF Surgical.
Medtronic will report the RF Surgical business as part of its Surgical Solutions division within the Minimally Invasive Technologies Group. The transaction is expected to meet Medtronic’s long-term financial metrics for acquisitions, and the annualized earnings impact of this acquisition is not expected to be material. The deal is expected to close in August, pending regulatory approvals.
Despite rigorous surgical sponge counting protocols and medical society-driven awareness efforts, surgical items occasionally are left inside patients after wound closure. A sponge, gauze or towel left inside a patient may require additional X-rays and corrective surgical procedures to remove the forgotten items. Left untreated, retained surgical items could cause serious and life-threatening issues such as intra-abdominal abscess, intestinal fistula or obstruction, perforated colon, hemorrhaging or infection.
The RF Surgical system is designed to be used as an adjunct to manual counting methods to help prevent surgical sponge-related “never events,” which are serious, largely preventable, and harmful clinical events. The proprietary detection system uses a low radio frequency (RF) signal to track and detect surgical gauze, sponges and towels (embedded with a RF tag) through blood, dense tissue and bone. The technology aims to reduce patient complications due to surgery, lessen unnecessary procedures, and increase efficiencies within the operating room.
“Patients are our priority. Improving patient safety and outcomes is our daily focus, which directly aligns with the RF Surgical technology,” said Chris Barry, president of the surgical innovations business within the Minimally Invasive Therapies Group at Medtronic.
“As we strive to make the RF Surgical technology the global standard of care, we look forward to the innovation opportunity afforded by our combined capabilities,”said John T. Buhler, CEO of RF Surgical.
Medtronic will report the RF Surgical business as part of its Surgical Solutions division within the Minimally Invasive Technologies Group. The transaction is expected to meet Medtronic’s long-term financial metrics for acquisitions, and the annualized earnings impact of this acquisition is not expected to be material. The deal is expected to close in August, pending regulatory approvals.