ARTICLE | Company News

Medtronic, Osteotech deal

August 23, 2010 7:00 AM UTC

Medtronic will acquire Osteotech for $6.50 per share in cash, or about $123 million. The price is a 65% premium to Osteotech's close of $3.94 on August 16. Medtronic said the acquisition will complement its biologics business' bone healing portfolio and expand its presence in spine, orthopedic trauma and dental into joint reconstruction, foot and ankle and sports medicine. Medtronic will gain Osteotech's Grafton demineralized bone matrix technology and its MagniFuse Bone Grafts and Plexur Biocomposites for musculoskeletal surgical procedures. ...