Acquisition Will Expand Product Offering and Pipeline for Cardiovascular Interventions
Press release reprinted from www.medtronic.com
Editor's Note: Invatec was featured in the October 2009 issue of IN VIVO. Purchase "Invatec: Translating Global Success in Vascular Devices to the US Market" to learn more about Invatec's track record, management team and strategic vision for the U.S. vascular device and interventional cradiology markets.
MINNEAPOLIS – Jan. 25, 2010 – Moving to expand its impact on peripheral vascular disease, Medtronic, Inc. (NYSE: MDT), announced today that it has signed a definitive agreement to acquire Invatec, a developer of innovative medical technologies for the interventional treatment of cardiovascular disease, and two affiliated companies: Fogazzi, which provides polymer technology to Invatec; and Krauth Cardiovascular, which distributes Invatec products in Germany. The agreement calls for Medtronic to make an initial payment of $350 million to Invatec and additional payments of up to $150 million for Invatec’s achievement of specific milestones.
