Medtronic Completes Acquisition of Ablation Frontiers
February 6, 2009 - Medtronic Inc. today said it completed the acquisition of Ablation Frontiers Inc. for an initial payment of $225 million plus potential additional payments contingent upon achievement of certain clinical milestones.
Operating within Medtronic’s Cardiac Rhythm Disease Management (CRDM) business, Ablation Frontiers and the recently acquired CryoCath Technologies Inc., expand the company’s recently launched AF Solutions business. Medtronic’s goal is to be the physician partner of choice for atrial fibrillation (AF) ablation by bringing new AF therapies to physicians that are simpler, safer, effective, and offer more predictable procedure times than current treatment methods, the company said.
In 2006, Ablation Frontiers received CE Mark to begin marketing its system of catheters and the GENius Radiofrequency (RF) Generator in the European Union to treat supraventricular arrhythmias and for use in atrioventricular node ablation. Ablation Frontiers is conducting a clinical trial under an FDA investigational device exemption to gain approval of the catheter system for permanent/long-standing persistent/chronic AF in the U.S. Ablation Frontiers products are not approved for marketing or sales in the U.S.
For more information: www.ablationfrontiers.com, www.medtronic.com
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