Investing in bone healing
Medtronic has agreed to pay $123 million in cash to acquire Osteotech, a developer of boneregeneration products. The acquisition, according to a news release, will build the bone-healing portfolio within Medtronic’s biologics division. Eatontown, N.J.-based Osteotech, which has bone-graft and biocomposite surgical products on the market, is seeking federal approval of a product that uses engineered human collagen biomaterials. The acquisition offer is subject to approval by Osteotech’s shareholders and customary regulatory approvals. The deal calls for Minneapolis-based Medtronic to pay $6.50 per share.