Medtronic Terminates $738 Million EOFlow Deal

Medtronic notified EOFlow on Dec. 6 that it exercised its right to terminate its agreement to acquire the company based on multiple breaches, according to a Securities Exchange Commission Form 8-K.

On May 25 Medtronic announced that it had entered into an agreement to acquire EOFlow, manufacturer of the EOPatch device, a tubeless, wearable and fully disposable insulin delivery device for $738 million.

Medtronic said it will continue to advance its automated insulin dosing product pipeline, including a differentiated patch pump.

Read the Medtronic Form 8-K here.

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