The Bellco transaction is expected to meet Medtronic's long-term financial metrics for acquisitions. Medtronic expects the net impact from the transaction to be earnings neutral in fiscal year 2016 and neutral to accretive to earnings thereafter. Medtronic will report revenue from Bellco and its Renal Care Solutions business as part of the Minimally Invasive Technologies Group's Patient Monitoring & Recovery division.
Bellco, headquartered in Mirandola, Italy, is a pioneer in blood purification treatments. It has created therapies and systems for the treatment of renal failure, multiple organ failure and sepsis. Bellco's full line of dialyzers and chronic and acute dialysis machines perform dialysis for adult, pediatric and neonatal End Stage Renal Disease (ESRD) patients. In 2012, Bellco was added as a portfolio company by Charme Capital Partners to its Charme II fund, which was founded by Luca and Matteo di Montezemolo.
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About Medtronic
Medtronic plc (www.medtronic.com), headquartered in Dublin, Ireland, is among the world's largest medical technology, services and solutions companies - alleviating pain, restoring health and extending life for millions of people around the world. Medtronic employs more than 85,000 people worldwide, serving physicians, hospitals and patients in approximately 160 countries. The company is focused on collaborating with stakeholders around the world to take healthcare Further, Together.
This press release contains forward-looking statements that involve risks and uncertainties. Such forward-looking statements include Medtronic's intended business strategy and expectations regarding benefits to Medtronic's operations as a result of the closing of the Bellco acquisition. The statements in this release are based upon current expectations and are subject to certain risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements, including risks related to the integration of Bellco's operations into Medtronic's, delays or obstacles in realizing the anticipated future benefits (including cost savings and other synergies) resulting from the acquisition of Bellco, difficulties and delays inherent in the development, manufacturing, marketing and sale of medical products and services, government regulation, general economic conditions and other risks and uncertainties set forth in Medtronic's periodic reports on file with the Securities and Exchange Commission. Actual results may differ materially from anticipated results. Medtronic does not undertake to update its forward- looking statements.
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