The Federal Trade Commission has issued a proposed order to require Medtronic (NYSE:MDT) to sell a subsidiary of Intersect ENT within 10 days of completing its $1.1 billion acquisition of Intersect ENT.
The commission announced May 10 that it voted 4-0 to issue its complaint and accept the proposed consent order for public comment.
Under the consent order, Hemostasis (White Bear Lake, Minnesota) would acquire Intersect ENT’s Fiagon business from Medtronic. Fiagon makes balloon sinus dilation products and ear, nose and throat navigation systems.
“Today’s action by the FTC is part of our efforts to combat the problem of rising healthcare costs,” Holly Vedova, director of the FTC’s Bureau of Competition, said in a news release.
“These are already concentrated markets for critical medical instruments,” she said. “Medtronic is the top provider of ear, nose, and throat navigation systems. We are requiring Medtronic to divest Fiag…