Medtronic Lawsuit

Medtronic announced plans today to buy a majority interest in a Chinese medical device company.

The deal, which gives Medtronic a 51% interest, involves the company Shandong Weigao Group Medical Polymer Co., Ltd. It is reported to cost roughly $220 million.

Once the deal is complete, Medtronic and Shandong will jointly market spinal, orthopedic, and trauma devices in the Chinese market. Medtronic will sell products used in spinal-fusion products while the latter will continue to market artificial knees and hips.

Medtronic expects that with this deal, the Chinese market for their products will overtake Japan, which is currently the largest market for Medtronic outside of the United States.

This is some of the first good news from Medtronic since October following the recall of their Fidelis leads.

If you or someone you know has been fitted with Medtronic leads and defibrillator, contact the Medtronic Lawsuit Attorneys of Williams Kherkher at 1-866-950-9000 to discuss your legal options and to schedule a free initial consultation.