Minneapolis-based Medtronic has acquired the majority of the shares of Biostar, a distribution company in Istanbul, Turkey.
Biostar will lead the distribution of Medtronic devices in Turkey, taking over for Medicall Biomedikal A.S., which has been distributing Medtronic devices in Turkey since 2003. Medtronic and Medicall now jointly own Biostar.
Following the transaction, a little more than half of Medicall's employees will transfer to Biostar.
Financial terms of the transaction were not disclosed.
"We believe this new relationship will bring us closer to the healthcare system in Turkey and will help increase access to available therapies, improve outcomes through our Academia programs and optimize cost and efficiency for hospitals, physicians, patients and payers," said Majid Kaddoumi, vice president and managing director of Medtronic Middle East, Turkey and Africa, in a company news release.
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