Medtronic (NYSE:MDT) announces a
$337M investment from funds managed by Blackstone Life Sciences (and
other co-investors) aimed at supporting R&D programs in its Diabetes
Group.
The capital, to be disbursed over several years,
will fund four undisclosed diabetes R&D programs. If successful,
Blackstone-led investors will receive low-to-mid-single-digit royalties
on net sales. Additional terms remain confidential.
Medtronic will host a briefing today at 6:00 pm ET from the ADA conference to discuss the deal.
https://seekingalpha.com/news/3582829-medtronic-to-ramp-up-diabetes-r-and-d-on-337m-blackstone-investment
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