Medtronic to acquire Nutrino Health, terms not disclosed
Medtronic announced a definitive agreement under which Medtronic will acquire Nutrino Health, a provider of nutrition-related data services, analytics, and technologies. Medtronic will add Nutrino's "comprehensive food database, food analysis system and nutrition-science expertise" to its capabilities, upon closing of the transaction. This transaction will build on a relationship originated in June 2016. Nutrino played a role in recent U.S. product introductions from Medtronic, including the updated iPro2 myLog app used with professional CGM solutions as well as the Sugar.IQ diabetes assistant app used with the Guardian Connect smart CGM system. The acquisition is expected to close in Medtronic's third fiscal quarter, ending January 25, 2019, subject to the satisfaction of certain customary closing conditions. The transaction is expected to be neutral to fiscal year 2019 earnings per share and meet Medtronic's long-term financial metrics for acquisitions. Additional terms of the transaction were not disclosed.