Medtronic plc (NYSE: MDT) has bought kidney treatment company Bellco from Italian private equity firm Charme Capital Partners. Financial terms were not disclosed.
Bellco, based in Mirandola, Italy, makes dialysis machines that are designed to help treat end stage renal disease, a form of late stage kidney disease. Medtronic will add the target to its newly formed renal care division. The two companies say that the number of patients with end stage renal disease or ESRD will double within the next 10 years. Charme purchased Bellco in 2012.
For Medtronic, Bellco is another deal that will help expand its medical device portfolio. In 2015, the company announced plans to purchase Aircraft Medical; it is adding RF Surgical Systems; and also completed its acquisition of Twelve Inc.
M&A activity in the medical device sector continues to remain robust. 3M Co. (NYSE: MMM) completed its purchase of Polypore International Inc.’s (NYSE: PPO) separations media business; Conmed Corp. (NASDAQ: CNMD) is buying SurgiQuest Inc.; and Stryker Corp. (NYSE: SYK) is adding Sage Products LLC.