The Medical Device Business Journal — Medical Device News & Articles | MassDevice
Medtronic Inc. (NYSE:MDT) closed its $370 million acquisition of ATS Medical Inc. (NSDQ:ATSI).
The deal called for Fridley, Minn.-based medical device monolith to pay $4 per share for its Twin Cities peer, as well as assuming its debt. ATS Medical owed Medtronic $30 million as of July 3, according to a regulatory filing, and had total liabilities of about $10.8 million.
The shareholders of cardiovascular technology firm ATS Medical Inc. (NSDQ:ATSI) voted in favor of the company’s $370 million sale to neighboring device giant Medtronic Inc. (NYSE:MDT).
About 79 percent of the company’s outstanding shares were voted, with about 95 percent of those in approval of the $4-per-share deal, according to Plymouth, Minn.-based ATS.
The deal was first announced in April. The acquisition figures to strengthen Medtronic’s position in the replacement heart valve and atrial fibrillation markets.
By Thomas Lee
ATS Medical Inc. (NSDQ:ATSI) stock has been a dog for quite a while, never rising above $5 a share since 2004 after posting a high of $20 a share nine years ago. But some investors stand to profit handsomely from Medtronic Inc.’s (NYSE:MDT) proposed $370 million acquisition of the company.
By Thomas Lee
Medtronic Inc. (NYSE:MDT) plans to acquire ATS Medical Inc. (NSDQ:ATSI) for $370 million in cash and debt, a move that further expands the medical device giant’s foray into the fast-growing market for products that treat structural heart disease.
Fridley, Minn.-based Medtronic will pay $4 for each share of ATS Medical, headquartered in Plymouth, Minn.
Cardiology device maker ATS Medical Inc. (NSDQ:ATSI) reported the first commercial implantation in China of its stent-less heart valve.
ATS Medical Inc. (NSDQ:ATSI) won a nod north of the border for its Simulus rings to repair defective heart valves.
The Minneapolis-based medical device maker said Health Canada, the Canadian equivalent of the Food & Drug Administration, cleared its mitral and tricuspid valve repair rings for sale in that country.
MINNEAPOLIS, Minnesota — Cardiology device maker ATS Medical Inc. (NSDQ:ATSI) announced the completion of the first commercial implants of its recently cleared sutureless aortic valve.
PLYMOUTH, Minnesota — Cardiology device maker ATS Medical Inc.‘s (NSDQ:ATSI) stock plummeted 18 percent in early afternoon trading Jan. 12, a day after the company announced it expects losses for the fourth quarter and full year of 2009.
The company blamed the worse-than-expected projections on slow growth in its heart valve and heart surgery businesses, according to a statement. Its share price had fallen to $2.65 early Tuesday afternoon, after closing the prior day at $3.24.
