August 9, 2010 – A merger is being finalized between Medtronic and cardiac surgery device maker ATS Medical. The company develops and manufactures products and services for the treatment of structural heart disease and the ablation of cardiac arrhythmias.
ATS Medical expects the closing of the merger will take place on or about Aug. 12.
ATS shareholders approved Medtronic's acquisition of the company for $4 per share in cash for each share of ATS stock. ATS Medical recently confirmed receipt of the last remaining antitrust clearance, and accordingly has received all required antitrust approvals relating to the merger. The closing of the merger remains subject to the satisfaction or waiver of customary closing conditions specified in the merger agreement.
For more information: www.atsmedical.com, www.medtronic.com