In a span of two days, Minneapolis-based Medtronic announced plans to acquire two European companies.
On Tuesday, Medtronic revealed it had acquired Sapiens Steering Brain Stimulation, a Dutch company developing brain stimulation technologies, for approximately $200 million in cash.
On Wednesday, the medical device company announced it had acquired NGC Medical S.p.A for $350 million. NGC is an Italian company that manages cardiovascular suites, operating rooms and intensive care units for hospitals.
Additionally, earlier this year, Medtronic acquired Irish device manufacturer Covidien for $42.9 billion.
An Associated Press report suggests the acquisitions of overseas companies are part of an inversion plan that allows the company to pay fewer corporate taxes.
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