SANTA ROSA -- Medtronic CardioVascular announced today that its parent company, Medtronic Inc., will acquire a developer of medical technologies for the interventional treatment of cardiovascular disease and two affiliated companies for $350 million.
Headquartered in Italy, Invatec’s array of stents, angioplasty balloons and accessory products complement therapies and products in Medtronic’s CardioVascular business. Medtronic will also acquire Fogazzi, which provides polymer technology to Invatec, and Krauth Cardiovascular, which distributes Invatec products in Germany.
The acquisitions bring Medtronic an established international business with a European center of technology development and manufacturing.
“Medtronic’s acquisition of Invatec will accelerate the growth of our CardioVascular business, adding important new products for the coronary and peripheral vascular markets,” said Scott Ward, senior vice president at Medtronic and president of the CardioVascular business.
Medtronic’s CardioVascular business, which develops coronary, peripheral and aortic stent systems, employs about 800 in Santa Rosa.