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Medtronic to acquire Affera, a cardiac arrhythmia technology firm, for $925 million – Minneapolis Star Tribune

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Medtronic is acquiring Affera Inc., a medical technology company focused on treating cardiac arrhythmias, for $925 million.
While Medtronic declined Monday to share the sale price, analysts at Piper Sandler disclosed terms of the deal, which includes $250 million that’s contingent upon Affera receiving U.S. Food and Drug Administration approval for its nascent technology.
Boston area-based Affera makes cardiac mapping and navigation systems and catheter-based cardiac ablation technologies.
Medtronic, which has its operational headquarters in Fridley, already holds a 3% share in Affera. It made that investment less than a year ago, a Medtronic spokeswoman said.
The deal is not expected to close until the first half of Medtronic’s fiscal year 2023, which begins May 1.
While Affera is an early-stage company with technologies not yet approved for commercial use by the U.S. Food and Drug Administration (FDA), it’s not new to medtech investors. The company just closed a $75 million Series C financing round in December, which included large investors like Boston-based Bain Capital Life Sciences.
“The deal represents a pretty sizable splash in the high-growth cardiac ablation market,” Matt O’Brien, senior analyst with Piper Sandler, wrote in a note Monday. “While the transaction will no doubt raise some questions about (Medtronic’s) ongoing study with (pulsed-field ablation), it emphasized that the transaction was really designed to close a product gap on the mapping side.”
Medtronic views Affera’s product as complementary to its own, O’Brien said.
Affera recently celebrated the first patient to be treated with its technology in New York. Last month, the company announced that it had received FDA approval to begin a randomized trial of its device, Sphere PerAF, for treating persistent atrial fibrillation.
Cardiovascular products accounted for 35.7% of Medtronic’s sales in its latest full fiscal year. In 2019, the medtech giant acquired Epix Therapeutics, maker of a catheter-based ablation system for arrhythmia patients.
Affera’s founder and chief executive Doron Harlev is experienced in this space. Harlev previously co-founded Rhythmia Medical that was acquired by Boston Scientific Corp. in 2012.
“This acquisition directly aligns with our vision of delivering novel solutions to address the rapidly growing demands for cardiac arrhythmia treatment,” Harlev said in a news release. “We are excited to focus on the integration of our technology with Medtronic and are confident that together we can increase patient access to ablation therapies.”
Medtronic’s stock rose less than half a percent in Monday trading.

Burl Gilyard is the Star Tribune’s medtech reporter.
© 2022 StarTribune. All rights reserved.

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Realm Scans: Navigating the Uncharted Territories of Digital Discovery

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In the expansive landscape of digital exploration, there exists a realm where information becomes an adventure—Realm Scans. Beyond a mere scanning service, this digital haven is where curiosity converges with innovation, and the uncharted territories of digital discovery come to life. Join us as we embark on a journey to unravel the unique dynamics of Realm Scans, navigating through the realms where information is not just scanned but transformed into a digital odyssey.

“Digital Horizons: Exploring the Essence of Realm Scans” is not just a title; it’s an exploration into the multifaceted dimensions of a scanning service that transcends the mundane. This article is an invitation to delve into the layers of technological prowess, user-centric design, and the transformative impact that defines Realm Scans in the dynamic world of digital information.

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A standout feature is the user-centric approach that defines the Realm Scans experience. “Digital Horizons” explores how user interface design, accessibility, and intuitive navigation are seamlessly integrated to create an environment where users don’t just scan documents—they embark on a digital journey of discovery.

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As we navigate through the digital horizons of Realm Scans, the article becomes a celebration of the fusion between technology and user experience. It is a recognition that in the world of digital services, there are realms where functionality meets innovation, and where information is a gateway to new digital frontiers.

“Digital Horizons: Exploring the Essence of Realm Scans” is not just an article; it’s an ode to the tech enthusiasts, the information seekers, and the digital explorers who recognize the profound impact of a scanning service that goes beyond the surface. It’s an acknowledgment that in the realms of digital discovery, Realm Scans stands as a beacon, inviting users to embrace the transformative power of information in the digital age.

As Realm Scans continues to redefine the digital scanning landscape, “Digital Horizons” invites us to appreciate the nuances of a service that transforms the ordinary into the extraordinary—an exploration where every scan is not just a document but a digital adventure waiting to be unfolded.

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