Medtronic to Acquire Corventis Mobile Cardiac Telemetry
May 20th, 2014
CardiacMonitoring.com has caught wind that Medtronic is looking to acquire Mobile Cardiac Telemetry (MCT) company manufacturer called Corventis. This is the most recent news as Corventis has been very quiet for several years after the big introduction of their wearable Mobile Cardiac Telemetry monitor called the NUVANT in 2010. There is some speculation that the acquisition can be upwards or $150 million dollars due to the unique technology and such a heavy-weight lineup of early investors.
Corventis has several intellectual assignments for its device that virtually acts as a peel and place sensor that communicates with a cellular device. The unit is capable of capturing several diagnostic measurements including heart rate, HRV, arrhythmias, respiratory rate and fluid status. This device seems like a natural fit with many of Medtronic products but in an external device.
In 2010 Corventis also secured approval from the Centers for Medicaid and Medicare (CMS) as an Independent Diagnostic Testing Facility (IDTF). This approval gave Corventis approval to bill Medicare for mobile cardiac telemetry and other ambulatory cardiac monitoring studies. Like other approved diagnostic laboratories in the industry, the wireless ECG information gathered by the NUVANT device is automatically detected and transmitted (in real time) to the Corventis Monitoring Center. The certified staff then analyzes the information and generates a report for the referring physician.
Corventis has not made an aggressive push in the U.S for penetration of its NUVANT mobile cardiac telemetry monitor. Despite such a lucrative market dominated by such players as CardioNet & LifeWatch, Corventis has only managed to land a select few customers in the U.S. Corventis has made some efforts in the international market with an effort to expand in India.
