Medtronic to Acquire Invatec for $500 Million: Medtronic, Inc., the world’s largest medical technology company based in Minneapolis, Minnesota disclosed that it is acquiring Invatec, a developer of products for the interventional treatment of cardiovascular disease for $500 Million.
Medtronic’s disclosure said on Monday that it has already signed an agreement to buy Invatec and Invatec’s two affiliated companies Fogazzi, which supplies polymer technology to Invatec, and Krauth Cardiovascular, which distributes Invatec products in Germany.
According to the terms of agreement of Medtronic-Invatec acquisition, Medtronic is making an initial payment of $350 million to Invatec and additional payments of up to $150 million when the acquisition achieves certain milestones.
“Medtronic’s acquisition of Invatec will accelerate the growth of our CardioVascular business, adding important new products for the coronary and peripheral vascular markets,” said Scott Ward, senior vice president at Medtronic and president of the CardioVascular business.
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