Medtronic on Tuesday announced a new partnership with CathWorks, establishing the framework for a $585 million acquisition of the digital health company.
The structure of the partnership is unique, with Medtronic agreeing to invest up to $75 million in the Israel-based company while the company works to achieve certain milestones outlined by Medtronic.
Medtronic will then have the option, for five years, to buy CathWorks — an acquisition the companies estimate would top out at $585 million.
