Medtronic PLC on Wednesday said it agreed to buy medical-device maker Avenu Medical for an undisclosed amount in a deal that bolsters its peripheral vascular access portfolio.
Medtronic said Avenu, based in San Juan Capistrano, Calif., is focused on the minimally invasive creation of arteriovenous fistulae for patients with end-stage renal disease undergoing dialysis.
The Dublin-based medical-technology company said the acquisition, its sixth "tuck-in" deal of the year, will be immaterial to adjusted per-share earnings in the first two fiscal years before turning accretive in fiscal 2023.
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