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Minneapolis-Based Firm Aims to Expand Its Urological Business.

The Commercial Appeal (Memphis, TN)

| December 07, 2001 | COPYRIGHT 2007 The Commercial Appeal. 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

Byline: Christopher Barton

Dec. 7--Medtronic Inc. said Thursday said it will buy Fremont, Calif.-based VidaMed Inc. for about $326 million so the company can expand its urological business.

Minneapolis-based Medtronic, which employs about 600 people at its Sofamor Danek division in Memphis, said the deal will add another dimension to the company's growing urological business.

The company has agreed to pay $7.91 in cash for each remaining VidaMed share, a price 40 percent above the stock's closing price of $5.67 per share on Wednesday.

Shares of VidaMed shot up $2.08 to close at $7.75 and was one of the largest percentage gainers on the…

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