Medtronic has completed the acquisition of NGC Medical in a m&a transaction that values NGC at $350 million.
NGC will serve as the Managed Services arm for Medtronic's Hospital Solutions business and represents another example of Medtronic's continuing effort to lead the transformation to value-based healthcare by leveraging the economic value of its products and services.
The unit will operate as a separate entity, continuing its long-standing commitment of being a brand-agnostic partner to hospitals.
Medtronic expects the net impact from this transaction to be neutral to fiscal year 2015 earnings and for this transaction to be consistent with the company's disciplined focus on long-term returns.
NGC manages cardiovascular suites, operating rooms and intensive care units at nearly 30 hospitals across Italy and is rapidly expanding its service offerings throughout Europe, the Middle East and Africa.
The m&a of NGC adds an established hospital managed services capability to Medtronic's growing portfolio of efficiency solutions for hospitals, and enhances its ability to provide higher levels of economic value to physicians, payers and health systems.
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