Medtronic acquires Invatec, 2 affiliates - KTTC Rochester, Austin, Mason City News, Weather and Sports

Medtronic acquires Invatec, 2 affiliates

MINNEAPOLIS (AP) -- Medtronic, Inc., said Monday it will acquire Invatec, which makes cardiovascular intervention devices, and two affiliated companies for an initial payment of $350 million.

The Minneapolis medical technology company says its agreement calls for Medtronic to make additional payments of up to $150 million if Invatec achieves certain milestones.

Medtronic senior vice president Scott Ward says Invatec will help the company grow its cardiovascular business, the world's largest sector of the medical device market. Invatec's line includes stents, angioplasty balloons and accessory products.

The two affiliated companies included in the acquisition are Fogazzi, which provides polymer molecule technology to Invatec and Krauth Cardiovascular, which distributes Invatec products in Germany.

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