Terms of the deal have not been disclosed.

The acquisition expands the operations of Medtronic’s recently formed renal care solutions business.

Medtronic renal care solutions president Ven Manda said: "ESRD patients require dialysis for the remainder of their lives, or until a viable kidney transplant becomes available.

"We believe Medtronic’s Renal Care Solutions can offer better, more accessible and affordable solutions to the growing population of people living with ESRD."

Bellco has developed therapies and systems for the treatment of renal failure, multiple organ failure and sepsis.

It has a wide range of dialyzers and chronic and acute dialysis machines, which can be used to carry out dialysis for adult, pediatric and neonatal ESRD patients.

According to Medtronic, Bellco has been offering advanced blood purification treatments for ESRD patients with chronic and acute kidney injury, since 40 years. Based in Mirandola, Bellco markets its products in around 50 countries.

Last November, Medtronic acquired Scotland-based medical device firm Aircraft Medical, for around $110m.

Based in Edinburgh, Aircraft Medical is involved in developing handheld video laryngoscopes used by anesthesiologists and critical care professionals to intubate patients.