Medtronic Acquires Lazarus Effect

Irish devicemaker Medtronic has acquired Lazarus Effect, a producer of acute ischemic stroke products used to capture and remove clots, for $100 million.

Lazarus Effect manufactures the Lazarus Cover device, a differentiating technology that complements Medtronic's Solitaire stent retriever platform. The nitinol mesh cover folds over a stent retriever during clot retrieval and "candy wraps" the stent with the clot inside, Medtronic says.

The Lazarus Cover received CE mark approval in November 2014 for distribution in the EU. Regulatory approval in the U.S. is pending. — Michael Cipriano