Medtronic Acquires Invatec – Analyst Blog

Filed in Gold Investing, lead by on April 26, 2010 0 Comments

Medtronic, Inc. ( MDT ) recently completed the acquisition of Invatec and two of its affiliated companies for an initial payment of $350 million and additional payments of up to $150 million based on Invatec’s achievement of specific milestones.   The two affiliated companies are Fogazzi, which provides polymer technology to Invatec; and Krauth Cardiovascular, which distributes Invatec’s products in Germany. Invatec is a developer of innovative medical technologies for the interventional treatment of cardiovascular disease.   The acquisition will boost Medtronic’s Cardiovascular business which will cater to the company’s top-line growth. Invatec has a broad portfolio of stents, angioplasty balloons and accessory products that match therapies and products in Medtronic’s Cardiovascular business.   Invatec is the first company to initiate the development and commercialization of lesion-specific solutions that include therapies for below-the-knee and carotid artery disease. It has been estimated that cardiovascular interventions is the world’s largest sector of the medical device market, generating $10 billion annually on a global basis. Within this category, peripheral vascular disease is a large and underserved market, currently estimated at $2 billion annually and growing faster than 10% per annum. The acquisition will enable Medtronic to increase its market share in the cardiovascular market segment.   Medtronic is one of the world’s leading medical technology companies, specializing in implantable and interventional therapy devices and products. The company’s closest rivals are Boston Scientific Corp. ( BSX ) and St. Jude Medical, Inc. ( STJ ).   Presently, we are ‘Neutral’ on Medtronic.     Read the full analyst report on “MDT” Read the full analyst report on “BSX” Read the full analyst report on “STJ” Zacks Investment Research

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Medtronic Acquires Invatec – Analyst Blog

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