Medtronic: agreement to acquire South Korean company

(CercleFinance.com) - On the sidelines of its quarterly earnings call, Medtronic has announced a definitive agreement to acquire EOFlow, a South Korean company that manufactures the EOPatch, a tubeless, wearable and fully disposable insulin delivery device.


As part of the agreement, the medical device supplier will launch a tender offer at a price that implies a total consideration for the acquisition of 971 billion won, or $738m at current exchange rates.

The acquisition is expected to close in H2 2023, subject to the satisfaction of the minimum tender condition and certain customary closing conditions, including the receipt of required regulatory approvals.


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