Medtronic Strategy Takes Shape After Biggest Inversion Ever

After pulling off the largest-ever “inversion” deal structured to reduce U.S. income taxes, Medtronic Plc is plotting another audacious move: the transformation of health-care delivery.

The $49.9 billion purchase of Covidien Plc, completed Monday, will cut taxes by moving Medtronic’s titular headquarters to Ireland. The deal also gives the medical-device maker a wider array of products, enabling the company to work more comprehensively with hospitals to control costs and make care more accessible, Chief Integration Officer Geoff Martha said.