Medtronic to buy hypertension treatment firm Ardian for $800 million

Medtronic Inc, the world's largest independent medical technology company, yesterday disclosed plans of buying Ardian Inc, a maker of catheter-based tool for treating hypertension, for $800 million.

Medtronic, which already owns 11 per cent of Mountain View, California-based Ardian, will pay $800 million in cash plus commercial milestones based on Ardian's annual revenue through 2015.
 
Ardian develops catheter-based therapies to treat hypertension and related conditions. Ardian is the eighth company created by The Foundry, a leading medical device incubator based in Menlo Park, California.

Founded in 2003, Ardian, Inc. has been working with leading researchers to develop a safe, effective treatment option that could offer a better approach to managing hypertension.

Understanding that hyperactivity of renal sympathetic nerves is a major contributor to the progression of the disease, the company has developed a unique system designed to block these nerves and thereby lower blood pressure.

Ardian's investors include Morgenthaler Ventures, Advanced Technology Ventures, Split Rock Partners, Medtronic and Emergent Medical Partners.

Medtronic, a Fortune 500 Company with 2009 revenues of $12.6 billion said that treating uncontrolled hypertension one of the most "exciting growth markets in medical devices."

The Minnesota-based company has made 64 acquisitions, while taking stakes in 19 companies since 1983. Its biggest acquisition was buying Kyphon Inc, a spine-surgery device maker in 2007 for $3.8 billion.

''Hypertension (high blood pressure) is the leading attributable cause of death worldwide. It is a significant, escalating global healthcare problem affecting approximately 1.2 billion people and is associated with an increased risk of heart attack, stroke, heart failure, kidney disease and death,'' said Sean Salmon, vice president and general manager of the Coronary and Peripheral Business at Medtronic.

''We view renal denervation for the treatment of uncontrolled hypertension as one of the most exciting growth markets in medical devices. Ardian's investigational catheter-based treatment for uncontrolled hypertension through renal nerve denervation complements Medtronic's expertise in catheter design and ablation technologies, and augments Medtronic's interventional therapie,'' he added.