Medtronic buys sinus-implant company for over $1 billion

Medtronic announced Friday it is acquiring Intersect ENT Inc., the maker of a product used in ear, nose and throat procedures. Medtronic (NYSE: MDT) is buying all outstanding shares of the Menlo Park, Calif.-based company for $28.25 per share in an all-cash transaction worth approximately $1.1 billion. Intersect ENT (NASDAQ: XENT) makes implants that open sinus passageways and deliver an anti-inflammatory steroid to hel p patients who suffer from chronic rhinosinusitis (CRS). The boards of directors…
Source: bizjournals.com Health Care:Biotechnology headlines - Category: Biotechnology Authors: Source Type: news