Medtronic Buys Sofamor Danek
Although the acquisition of Sofamor Danek by Medtronic came as a surprise to some, both Medtronic and Sofamor Danek had in recent years begun to move toward a common ground around neurosurgery. Sofamor Danek should benefit from Medtronic's growing presence in neurological medicine, especially surrounding minimally invasive and image-guided neurosurgery. In announcing the deal. Medtronic noted that its neurological business will, with Sofamor's revenues included, account for 28% of the company's overall sales this year, a figure Medtronic expects to grow to 40% in the next ten years.
You may also be interested in...
At a time when the US industry is undergoing perhaps its most serious crisis of leadership and confidence, it was appropriate that Bill George, former chairman and CEO of Medtronic was the recipient of the Lifetime Achievement award at this year's Phoenix Medical Device and Diagnostic conference for CEOs, sponsored by PricewaterhouseCoopers, Versant Ventures, Wilson Sonsini Goodrich & Rosati, and Windhover Information. Honoring Bill George at this particular time is propitious because George has spent his career promoting the importance of individual values and responsibility in corporate leadership, and has just published "Authentic Leadership: Rediscovering the Secrets to Creating Lasting Value," a book that defines the qualities he considers essential attributes for corporate leaders to successfully manage companies built to deliver long-term value.
We clean out your Thanksgiving inbox so you don't have to.
A timeline of the review and development of the first COVID-19 vaccine to win BLA approval.