Kyphon Purchase Complete
Medtronic, Incorporated has completed the acquisition of Kyphon, Incorporated, effective November 2nd. The total deal value is $4.2 billion, including outstanding Kyphon debt assumed by Medtronic. Medtronic reportedly financed the deal with existing liquid funds, as stated in their press release about the deal.
Both companies procured the unanimous support of their respective Directors in the completion of the deal. The shareholders from Kyphon signed off on the deal in the middle of October. Initial news of the planned acquisition was described on Hospital Buyer.
In addition to news about the acquisition completion, Kyphon completed their purchase of the non-vertebroplasty assets of Disc-O-Tech Medical Technologies, Limited. They also recently completed a deal to divest all those assets in the Confidence product line from Disc-O-Tech.
November 7, 2007 Related topics: Mergers & Acquisitions, Corporate Financials