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Yet Another Medtronic - Bovie Medical Link

|Includes: Bovie Medical Corporation (BVX), MDT

Past research into Bovie Medical Corporation (NYSEMKT:BVX) has uncovered significant links between Bovie and Medtronic (NYSE:MDT) (for example, see "Bovie Medical: Little Bovie May Be Running With The Big Dogs"), besides the obvious ones, such as Bovie's history of manufacturing OEM products for Medtronic.

Yesterday Bovie announced another key hire with links to Medtronic.

Here's what the press release had to say:

Bovie Medical Corporation... today announced that it has hired Mark Charbonneau as J-Plasma® Product Development Manager.

Prior to joining Bovie, Mark was an engineering manager for Centrix and senior manufacturing engineer for Ventripoint Diagnostics. Previously, Mark worked in senior engineering roles at companies including Cenorin, Archus Orthopedics and Salient Surgical Technologies. He brings more than 14 years of experience to Bovie and received a B.S. in engineering from the University of Massachusetts.

Although the results of a Google search indicate that Mr. Charbonneau has kept a low online profile, some information can be found.

Mr. Charbonneau is a coinventor of US Patent 7,115,139, a patent formerly assigned to Salient Surgical and now to Medtronic Advanced Energy, Medtronic having purchased Salient a few years back. The first paragraph of the "Summary of the Invention" section reads as follows:

The invention provides a system for treating tissue comprising a power measurement device, a flow rate controller coupled to the power measurement device, and an electrosurgical device configured and arranged to provide radio frequency power and conductive fluid to the tissue, wherein the flow rate controller is configured and arranged to modify a flow rate of the conductive fluid to the tissue, based on signals from the power measurement device.

Mr. Charbonneau's background in electrosurgery will no doubt be quite helpful to him in his new position.

A growing body of evidence (see previous articles and Instablog posts) suggests that Bovie Medical is a strong buyout candidate and that the company has deep links with major medical device firms that are only growing deeper over time. The addition of staff to the Bovie team who have links with other such firms serves to increase the odds one of the firms will take the plunge and make a move on Bovie.

While we wait for someone to step up to the plate and make an offer, let's wish Mr. Charbonneau the best of success in his new position.

Disclosure: The author is long BVX.

Additional disclosure: See the cautionary statements at the end of my past articles on Bovie Medical.