Medtronic CEO Says Back to M&A After a Hiatus of Two Years

Medtronic Chief Executive Officer Omar Ishrak said it’s time to get back to dealmaking.

The medical-equipment giant has remained on the sideline in the past two years, with its last sizable purchase, the $1 billion acquisition of a heart-device maker, dating back to August 2016. That’s going to change, Ishrak said.

“You will see activity from us, make no mistake,” the CEO said in a telephone interview Aug. 21. “There is value in M&A and we certainly see that.”

The medical device industry is fueled by purchases, as smaller innovative groups devise new technologies and the larger companies buy and ...