Medtronic Puts $350M Down For Invatec

Law360, New York (January 25, 2010, 11:29 AM EST) -- Medical device maker Medtronic Inc. has inked a deal to buy the Italian stent and angioplasty producer Invatec, along with two affiliated companies, in a deal potentially valued at up to $500 million.

Under the terms of the deal announced Monday, Medtronic will make an initial payment of $350 million to Invatec, and will make additional payments of up to $150 million if Invatec achieves certain goals. The two affiliated companies included in the transaction are Fogazzi, which provides polymer technology to Invatec, and Krauth Cardiovascular,...
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