Medtronic completes acquisition of Restore Medical

Published: 07/17

MINNEAPOLIS, MN - (HealthTech Wire) - Medtronic, Inc. (NYSE:MDT) today announced that it has completed its acquisition of Restore Medical, Inc. (NASDAQ: REST).  Under the terms of the agreement announced on April 22, 2008, Restore shareholders will receive $1.60 per share in cash for each share of Restore common stock they own.  The total value of the transaction, including payment of Restore debt, was approximately $29 million.

Restore Medical’s Pillar® Palatal Implant System (Pillar System) will be integrated into the Surgical Technologies business unit at Medtronic.  The Pillar System is an innovative, minimally invasive, implantable medical device used to treat the soft palate component of sleep breathing disorders, including mild to moderate obstructive sleep apnea (OSA) and snoring.