Medtronic Invests Up to $80 Million in Pi-Cardia

Sep 1, 2026
Medtronic will invest up to $80 million in Pi-Cardia and is expected to become the exclusive global distributor of the ShortCut device in 2027.
Medtronic Invests Up to $80 Million in Pi-Cardia
Image: Pi-Cardia via PR Newswire , Pi-Cardia via PR Newswire

Medtronic and Pi-Cardia announced in a press release that Medtronic will make strategic investments of up to $80 million in Pi-Cardia. The agreement gives Medtronic an option to expand its structural heart portfolio and is expected to make Medtronic the exclusive global commercial distributor of Pi-Cardia's ShortCut device in 2027.

ShortCut is an FDA cleared leaflet modification device for transcatheter aortic valve replacement procedures in patients at risk of coronary obstruction. Pi-Cardia said the device is designed to split valve leaflets and help preserve coronary access during future transcatheter valve procedures.

The agreement also gives Medtronic an option to acquire Pi-Cardia after predefined milestones are met. The upfront acquisition price could reach $210 million, subject to adjustments, with additional payments possible after acquisition. The transactions require regulatory approval and other closing conditions.

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