Medtronic completes acquisition

Medtronic has announced it has finalised the deal to acquired Restore Medical, under terms of an agreement announced in April this year.

Restore Medical shareholders will receive $1.69 (0.84 pounds) per share and the total cost of the acquirement was around $29 million.

The Pillar Palatal Implant System from Restore Medical will be absorbed into Medtronic’s Surgical Technologies business unit.

Pillar System is a medical device used for sleeping disorders such as snoring and obstructive sleep apnea.

Sleep apnea is a condition whereby a pause occurs of up to ten seconds in the breathing pattern of someone who is asleep.

Obstructive sleep apnea means breathing is interrupted despite efforts of the respiratory system. In serious cases the condition can lead to cor pulmonale – a form of congestive heart failure.

Earlier this week, the company announced the Reveal DX Insertable Cardiac Monitor had been granted Japanese regulatory approval. It will be the first such device to be introduced in Japan.