Fridley-based Medtronic said Monday that it bought Tyrx Inc. for $160 million dollars in cash. The Associated Press said that the New Jersey-based company produces devices used to treat infections following device-implantation procedures.
The Business Journal described Tyrx’s AIGISRx Antibacterial Envelopes as an antibacterial pouch for medical devices like pacemakers and defibrillators. It is coated with a polymer that is placed inside a patient's body and releases two drugs that treat infections. After implantation, the envelope surrounding the device eventually dissolves.
“While the risk of infection from an implanted pacemaker or defibrillator is low for most patients, repeated operative procedures after the initial device implant are associated with a substantial incremental risk of infection,” said Pat Mackin, Medtronic senior vice president.“This is estimated to cost the U.S. health care system more than $1 billion per year.”
Roberty White, Tyrx’s president and CEO, was previously president of Medtronic’s Kyphon business unit.
Also on Monday, the Wall Street Journal's MarketWatch had the news that Omar Ishrak, chairman and chief executive officer of Medtronic, would make a presentation about Medtronic at the 32nd annual J.P. Morgan Healthcare Conference on January 13 in San Francisco.