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Medtronic Invests in Bone Healing
Medtronic will spend $123 million to buy Osteotech Inc. to expand its bone-healing portfolio.
Medtronic officials said in a news release that the purchase of Osteotech will compliment Medtronic Biologics’ bone-healing portfolio, which includes products for the treatments of spine, orthopedic trauma, and dental conditions. The Osteotech acquisition expands that line-up into joint reconstruction, foot and ankle, and sports medicine.
Medtronic plans to pay $6.50 per share for Eatontown, New Jersey-based Osteotech, a 66 percent premium over Osteotech’s Monday closing price.
More details on Medtronic's $123M purchase of Osteotech are available from the Minneapolis/St. Paul Business Journal.
Chris Newmarker is a staff writer for the Minneapolis/St. Paul Business Journal.
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