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Medical Devices Business to Acquire Firm Specializing in Prostate Treatment.

Knight Ridder/Tribune Business News

| December 07, 2001 | COPYRIGHT 1999 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

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…

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Source: HighBeam Research, Medical Devices Business to Acquire Firm Specializing in Prostate...

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