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Medtronic, Inc. (MDT) Drops $200 Million on Cardiocom LLC


8/12/2013 7:46:59 AM

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Medtronic spends $200 million to acquire disease management company Cardiocom, the Wall Street Journal reports. Medtronic (NYSE:MDT) bought Cardiocom LLC for $200 million in cash in a bid to get into the disease management business, according to the Wall Street Journal. Chanhassen, Minn.-based Cardiocom makes devices aimed at helping to manage chronic conditions like diabetes or heart disease. The acquisition is aimed at putting Fridley, Minn.-based Medtronic in position to take advantage of the increasing focus on lowering healthcare costs, Medtronic's U.S. president Mike Genau told the newspaper.

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