Medtronic Inc. (MDT) signed a definitive agreement to acquire Invatec and two affiliated companies: Fogazzi, which provides polymer technology to Invatec; and Krauth Cardiovascular, which distributes Invatec products in Germany.
The company noted that this deal 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.
"Medtronic's acquisition of Invatec will accelerate the growth of our CardioVascular business, adding important new products for the coronary and peripheral vascular markets," explained Scott Ward, senior vice president at Medtronic and president of the CardioVascular business.
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