Medical device manufacturer Medtronic PLC announced on Tuesday that it has agreed to acquire U.S.-based Scientia Vascular in a transaction valued at $550 million, aiming to expand its stroke treatment product portfolio.

Key details of the acquisition include:

Scientia Vascular, headquartered in Salt Lake City, employs approximately 310 people and specializes in guidewires and catheters used in cerebral vascular interventional procedures. Medtronic stated that these guidewires and catheters can be seamlessly integrated with its existing neurovascular product portfolio. Linea Berman, Senior Vice President and President of Medtronic's Neurovascular business, noted that the acquisition will provide Medtronic with a comprehensive product system capable of supporting full procedural workflows for both hemorrhagic and acute ischemic stroke. Medtronic anticipates the transaction will be completed in the first half of its fiscal year 2027. The company expects the acquisition to be slightly dilutive to adjusted earnings per share in fiscal 2027, but accretive thereafter. Medtronic added that the deal may involve contingent consideration and milestone payments, though no further details were disclosed.