Medtronic to Buy 2 Heart-Valve Parts Makers FEBRUARY 23, 2009, 10:02 AM
Medtronic said on Monday that it is buying two privately held makers of heart-valve technologies, paying about $1.03 billion in cash for both. Both CoreValve, based in Minneapolis, and Ventor Technologies, based in Netanya, Israel, make products that allow heart valves to be replaced using a catheter, instead of through surgery. Neither CoreValve’s nor Ventor’s products are available yet in the United States. Medtronic will pay an initial $700 million for CoreValve, with additional payments depending on whether company hits certain undisclosed milestones. It will pay $325 million for Ventor.
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