Medtronic To Acquire Salient Surgical Technologies for $525M

Medtronic, Inc. MDT today announced that it has entered into a definitive agreement to acquire Salient Surgical Technologies, Inc.. Salient's AQUAMANTYS® system with patented TRANSCOLLATION® technology will broaden Medtronic Surgical Technologies' portfolio of innovative surgical products to meet customer and patient needs worldwide. The total value of the transaction is $525 million. Medtronic had previously invested in Salient and currently holds an ownership stake in the company. Net of this ownership stake, the transaction value is approximately $480 million. Salient's revenue is annualizing at approximately $100 million and is growing rapidly.