Medtronic, Inc. (MDT) has recently decided to acquire ATS Medical, Inc. (ATSI) for $4.00 per share in cash for each share of ATS Medical stock. The transaction is valued at roughly $370 million. Per the agreement, Medtronic will buy ATS Medical’s common stock and will assume its net debt. 

The acquisition will expand Medtronic’s Cardiovascular product portfolio which will cater to the company’s overall top-line growth. Minneapolis, MN-based ATS Medical develops, manufactures and markets medical devices needed for cardiovascular surgery. 

ATS Medical‘s core product, ATS Open Pivot, a mechanical bileaflet heart valve, is used to treat heart valve failure. The company has an extensive CryoMaze family of ablation products which are used in cardiac surgery. Furthermore, ATS Medical also operates in the tissue valve market. 

ATS Medical’s Simulus products are well accepted by cardiac surgeons as a result of their enhanced features. Simulus annuloplasty products provide physiologic support for the repaired valve, adapting to the natural movement of the heart in the cardiac cycle. 

Medtronic is one of the world’s leading medical technology companies, specializing in implantable and interventional therapy devices and products. The company’s closest rivals are Boston Scientific Corp. (BSX) and St. Jude Medical, Inc. (STJ).
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