Medtronic to acquire Invatec for $350 million
25 Jan 2010
The world's second-largest medical device maker Medtronic Inc today disclosed plans to acquire Italy's Invatec, a provider of stents and angioplasty balloons, and two of its affiliated companies for an initial payment $350 million, to expand its peripheral vascular business.
Under the deal, Minneapolis-based Medtronic will make an initial payment of $350 million to Invatec and additional payments of up to $150 million upon Invatec's achieving specific milestones.
Invatec founded in 1996 and based in Roncadelle, Italy is an innovator in the development and commercialisation of interventional coronary and peripheral products.
Its products include balloon catheters, coronary stent systems, multi-purpose angioplasty support catheters, rapid exchange clot extraction catheters, coronary and infrapopliteal guide wire, renal RX stent systems, carotid self-expanding stent systems, proximal flow blockage cerebral protection devices, embolic protection systems, peripheral stent systems, and infrapopliteal balloon-expandable stent systems, as well as minimal invasive radiofrequency ablation systems.
The company sells its products in Europe, the Middle East, Africa, the Americas, the Far East, and Asia.
Medtronic is a global leader in medical technology – alleviating pain, restoring health, and extending life for millions of people around the world. The CardioVascular business deals in the treatment of coronary, peripheral, aortic and structural heart disease through collaboration with leading clinicians, researchers and scientists worldwide.
