After pulling off the largest-ever “inversion” deal structured to reduce U.S. income taxes, Medtronic Plc (MDT) is plotting another audacious move: the transformation of health-care delivery.
The $49.9 billion purchase of Covidien Plc (COV), completed Monday, will cut taxes by moving Medtronic’s titular headquarters to Ireland. The deal also gives the medical-device maker a wider array of products, enabling the company to work more comprehensively with hospitals to control costs and make care more accessible, Chief Integration Officer Geoff Martha said.
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The $49.9 billion purchase of Covidien Plc (COV), completed Monday, will cut taxes by moving Medtronic’s titular headquarters to Ireland. The deal also gives the medical-device maker a wider array of products, enabling the company to work more comprehensively with hospitals to control costs and make care more accessible, Chief Integration Officer Geoff Martha said.
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