|Medtronic Completes Acquisition of Twelve, Inc.|
DUBLIN - October 2, 2015 - Medtronic plc (NYSE: MDT) today announced that it has completed the acquisition of Twelve, Inc. ("Twelve"), a privately-held medical device company based in Redwood City, CA, focused on the development of a transcatheter mitral valve replacement (TMVR) device.
"This acquisition supports Medtronic's therapy innovation strategy, as TMVR represents an important growth opportunity for our business," said Sean Salmon, senior vice president and president, Coronary & Structural Heart, Medtronic. "We look forward to welcoming the Twelve team to Medtronic to help deliver an exciting and differentiated therapy to patients."
In collaboration with leading clinicians, researchers and scientists worldwide, Medtronic offers the broadest range of innovative medical technology for the interventional and surgical treatment of cardiovascular disease and cardiac arrhythmias. The company strives to offer products and services that deliver clinical and economic value to healthcare consumers and providers around the world.
The Medtronic TMVR technology is not available for sale in any country.
This press release contains forward-looking statements that involve risks and uncertainties. Such forward-looking statements include Medtronic's intended business strategy and expectations regarding benefits to Medtronic's operations as a result of the closing of the Twelve, Inc. acquisition. The statements in this release are based upon current expectations and are subject to certain risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements, including risks related to the integration of Twelve, Inc. operations into Medtronic's, delays or obstacles in realizing the anticipated future benefits (including cost savings and other synergies) resulting from the acquisition of Twelve, Inc., difficulties and delays inherent in the development, manufacturing, marketing and sale of medical products and services, government regulation, general economic conditions and other risks and uncertainties set forth in Medtronic's periodic reports on file with the Securities and Exchange Commission. Actual results may differ materially from anticipated results. Medtronic does not undertake to update its forward- looking statements.