Medtronic to Acquire Invatec

January 25, 2010—Medtronic, Inc. (Minneapolis, MN) announced that it has signed a definitive agreement to acquire Invatec (Roncadelle, Italy), a developer of medical technologies for the interventional treatment of cardiovascular disease, and two affiliated companies: Fogazzi, which provides polymer technology to Invatec; and Krauth Cardio-Vascular (Hamburg, Germany), 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.

According to Medtronic, Invatec's product line of stents, angioplasty balloons, and accessory products complement therapies and products in Medtronic's CardioVascular business. The acquisition of Invatec adds a peripheral franchise and pipeline to Medtronic and enhances its coronary product offering. Invatec has brought four drug-eluting balloons to market (outside the United States), covering the coronaries and lower extremity vessels. It is a pioneer in the development and commercialization of lesion-specific solutions, including therapies for below-the-knee and carotid artery disease, Medtronic stated.