Medtronic Pays $160M Cash For Implantable Device Maker

Law360, New York (January 6, 2014, 5:28 PM EST) -- Minneapolis-based medical technology giant Medtronic Inc. said Monday it has paid $160 million in cash to acquire Tyrx Inc., a privately held company that develops products that reduce the risk of infection during surgery.

Tyrx, based in New Jersey, develops implantable combination antibiotic drugs and implanted medical devices including AIGSRx R, an antibacterial envelope  designed to cover implantable pacemakers and defibrillators that was recently approved by the U.S. Food and Drug Administration. Medtronic said the deal includes an all-cash payment with potential earning based on milestone...
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