Medtronic Inc., an active acquirer and financial backer of new medical technologies, has moved its tax domicile overseas with the $42.9 billion acquisition of rival Covidien PLC, a deal that Medtronic says will free up billions of dollars that can be more easily and flexibly deployed to technologies being developed in the U.S.
But investors in these U.S.-based technologies see things differently. The merger means that the medical-technology industry is consolidating, several venture capitalists said, which takes options off the table for young companies struggling to bring new treatments onto the market.
Image: Medtronic headquarters in Minneapolis Bloomberg News
To read the original article: Medtronic-Covidien Merger Not Great News For Startups, VCs Say - Venture Capital Dispatch - WSJ
