Medtronic acquires Chanhassen patient-monitoring service for $200 million

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Fridley-based Medtronic is acquiring Cardiocom, a privately-held tele-medicine company based in Chanhassen.

The Business Journal reports that the $200 million deal will push Medtronic out of its usual comfort zone. Cardiocom is built on patient monitoring rather than high tech medical devices.

Quoting The Wall Street Journal, the Business Journal said that Cardiocom's main focus is on monitors to help doctors track patients with chronic ailments to keep them out of the hospital. The deal is expected to provide Medtronic with heightened relationships with hospitals and insurers, who make up a large part of Cardiocom's customer base.

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