Medtronic set to acquire Ardian for $800 million
Medical-device maker Medtronic, Minneapolis, will acquire Ardian, a developer of catheter-based treatments for hypertension, according to a news release. The deal calls for Medtronic to pay $800 million cash upfront plus commercial milestone payments equal to Ardian’s annual revenue growth through 2015. Medtronic currently holds an 11% interest in the Mountain View, Calif.-based company. The deal is subject to regulatory review and closing conditions.