Medtronic proposes takeover of medical devicemaker: 3 things to know

Angie Stewart -   Print  |

Medtronic offered to acquire medical device company Intersect ENT, insiders told Bloomberg.

Three things to know:

1. While Medtronic's plans could change, Intersect's board of directors is reportedly reviewing the offer. The company makes drug-delivery tools for chronic sinusitis treatment.

2. As one of many smaller devicemakers hurt by COVID-19-related elective surgery cancellations and resulting low demand for medical devices and supplies, Intersect reduced its workforce by 25 percent and furloughed an additional 5 percent of employees in April.

3. Medtronic and Intersect both declined to comment to Bloomberg, and the outlet's sources asked to remain anonymous due to the proposal's private nature.

More articles on devices:
Setting spine practices up for success post-pandemic: 5 industry insights
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