Ablation Frontiers, which was founded in 2004, produces products treating the irregular heartbeat found in roughly three million Americans with a worldwide potential market of 10 million.
Medtronic said it would pay an initial payment of $225 million and further payments contingent upon performance of some clinical goals.
The deal is subject to regulatory approval and is expected to close by April 24, 2009, the end of Medtronic’s fiscal fourth quarter.
In the news release, Senior Medtronic Vice President Pat Mackin, president of the company’s Cardiac Rhythm Disease Management, said Medtronic hopes to add Ablation Frontiers’ "emerging business technologies to our growing AF Solutions franchise."
Read the news release about the Medtronic acquisition of Ablation Frontiers.
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