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By Jim McCartney, Saint Paul Pioneer Press, Minn. Knight Ridder/Tribune Business News
Dec. 7--Medtronic has agreed to pay $326 million for VidaMed, a company that has a system for treating enlarged prostates, a common disease among older men.
The Fridley-based medical devices company owns about 17 percent of the shares in the Fremont, Calif.-based company and has a representative on its board. The $326 million reflects all of VidaMed's shares, including the ones Medtronic already owns, so its net outlay will be about $55 million less than the deal price.
"Medtronic needs to enhance its urology business," said Thomas Gunderson, a securities…
Source: HighBeam Research, Medical Devices Business to Acquire Firm Specializing in Prostate...