Medtronic Inc. (NYSE:MDT) is a company in transition as it seeks higher growth in China and new therapies like transcatheter heart valves while trying to "protect and optimize" its core cardiac rhythm disease management (CRDM) business. On Tuesday, the Fridley, Minnesota, medical device maker said its profits sank 34 percent in the fiscal second quarter from a year ago. So it lowered its fiscal 2011 profit and sales forecasts.
Medtronic Inc. (NYSE:MDT) said Wednesday it has completed its $123 million acquisition of Osteotech Inc. The Fridley, Minnesota, medical device maker paid $6.50 for each share of Osteotech, which makes orthopedic-focused biologic products that spur regenerative healing.
By reducing administrative burden and redesigning workflows around human needs, it creates space for what matters most: connection between clinicians and patients.
On Wall Street, you're only as good as your next acquisition. Try telling that to Medtronic Inc. (NYSE:MDT). Over the past two years, the Fridley, Minnesota, medical device maker purchased nine companies: $700 million for CoreValve Inc., $370 million for ATS Medical Inc., $123 million for Osteotech Inc. -- all small, "tuck-in" deals. The time is ripe for a big acquisition.
When you're the richest kid on the block, it's easy to make friends. For Medtronic Inc. (NYSE: MDT), those friends happen to be investment bankers and venture capitalists. And the world's largest medical device maker has been on an acquisition tear of late, using its considerable cash hoard to buy nine companies since 2009.
Medtronic Inc. (NYSE: MDT) said Tuesday it will purchase Osteotech Inc. (NASDAQ: OSTE) for $123 million. The world's largest medical device maker, based in Fridley, Minnesota, said it would pay $6.50 for each Osteotech share, a 65 percent premium over Osteotech's Monday closing price of $3.94.