Medtronic said in a filing with the SEC that it is paying $500 million in U.S. income taxes on $9.8 billion in cash and investments that it is moving to the country from overseas subsidiaries. The move sets the stage for more M&A activity.

The move also demonstrates the benefits of tax inversion deals, like Medtronic’s $50 billion purchase of Covidien, under which the combined company renamed itself Medtronic PLC and transferred its corporate headquarters to Ireland.