Medtronic Says Still Has Room For More Acquisitions

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Medtronic Says Still Has Room For More Acquisitions

by Wochit 0:56 mins

Medtronic Says Still Has Room For More Acquisitions

by Wochit 0:56 mins

Medtronic Inc on Monday said it will remain in the market for promising new technologies even as it absorbs Dublin-based medical device maker Covidien Plc in a $42.9 billion cash-and-stock deal. A day after announcing the agreement to buy Covidien, Medtronic executives told analysts on a conference call that the additional cash flow generated by combining the two companies would expand the budget for acquisitions and minority investments, as well as internal research and development. Chief Executive Omar Ishrak said, Medtronic has been especially keen to expand beyond selling devices into providing advisory services to hospitals, and would consider acquisitions that would help it develop that business,

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