Medtronic, MediGuide to develop medical position products

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MediGuide has signed an agreement with Medtronic for the co-development of products enabled with a medical positioning system (MPS).

MediGuide's MPS navigation capabilities will be added to Medtronic products to enhance various procedures.

Under terms of the agreement, the Minneapolis-based Medtronic will invest in the co-development and optional equity in the Haifa, Israel-based MediGuide. Though the partnership is subject to receipt of regulatory and clinical approvals, the integration of the MediGuide MPS navigation technology into Medtronic tools is expected to enhance the physician's operation, as well as the procedure duration and outcome, the companies said.

The relationship expands MediGuide's portfolio of future products, together with its relationships with leading imaging and device companies, according to Medronic and MediGuide.