Acquisition |
3 Months Ended |
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Mar. 30, 2025 | |
Discontinued Operations and Disposal Groups [Abstract] | |
Acquisition | Acquisition Biotronik Acquisition On February 24, 2025, we executed a definitive agreement to acquire substantially all of the Vascular Intervention business (the "VI Business") of BIOTRONIK SE & Co. KG. The acquisition will include a broad suite of coronary and peripheral medical devices, such as drug-coated balloons, stents, and balloon catheters, which will complement our interventional product portfolio. Under the terms of the agreement, we will acquire the VI Business for an initial cash payment of €760 million reduced by certain adjustments as provided in the agreement, including certain working capital not transferring and other customary adjustments. The acquisition is subject to customary closing conditions, including receipt of certain regulatory approvals, and is expected to be completed in the third quarter of 2025. For the three months ended March 30, 2025, we incurred acquisition-related costs of $4.3 million, which were recognized in selling, general and administrative expenses in the Condensed Consolidated Statement of Income.
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