Breakaway Imaging Purchased by Medtronic
Medtronic, an international technology and device designer and manufacturer, released plans April 24th to purchase imaging technology from Breakaway Imaging. Medtronic will specifically acquire the O-arm Imaging System, which received FDA approval in early 2007. The deal is expected to be finalized in June; the financial details were not disclosed.
The system to be purchased, the O-arm Imaging System, gives surgeons multi-dimensional surgical visualization in real-time. The technology is a key piece of minimally invasive approaches for spine surgery.
The acquisition deal was based on an agreement established in September 2005 whereby Medtronic obtained exclusive rights to distribute the imaging system. That deal allowed for the future purchase of the technology.
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April 24, 2007 Related topics: Imaging, Mergers & Acquisitions