Medtronic Acquires Twelve for $458 Million

Medtronic has reached an agreement to acquire Twelve, Inc., for $458 million, giving it new capabilities in the mitral valve market space.

The Redwood City, Calif., devicemaker is developing a transcatheter mitral valve replacement device to treat mitral valve regurgitation in patients for whom standard restorative surgery is not recommended.

“We have followed the transcatheter mitral valve space and firmly believe that Twelve has the most novel technology along with a strong, proven team,” says Sean Salmon, senior vice president and president of Medtronic’s Coronary & Structural Heart unit.

Mitral regurgitation occurs when the heart's left atrioventricular valve fails to close normally, causing blood to flow backward when the heart contracts. The problem can lead to declining heart function and heart failure over time. — Michael Cipriano