ARTICLE | Company News

Medtronic to acquire Osteotech

August 18, 2010 12:10 AM UTC

Medtronic Inc. (NYSE:MDT) will acquire Osteotech Inc. (NASDAQ:OSTE) 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 Monday. 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. ...