Medtronic to purchase ATS Medical

Medtronic is to expand its presence in the cardiovascular health market through the acquisition of specialist manufacturer ATS Medical.

The company will pay around $370 million (243.6 million pounds) for the cardiac surgery-focused firm, whose portfolio includes products such as the Open-Pivot bileaflet mechanical unit and 3f pericardial valve technology.

This agreement remains subject to standard closing conditions, such as approval by regulatory bodies and ratification by ATS Medical shareholders.

ATS Medical has expressed confidence that the deal will allow it to improve its ability to deliver its heart health devices to patients and clinicians worldwide.

Scott Ward, senior vice-president of Medtronic and president of its cardiovascular unit, added: “The acquisition of ATS Medical will further strengthen our cardiovascular business ? ATS is an innovative and successful company that is well respected by cardiac surgeons throughout the world.”

This comes after the company last week completed its takeover of cardiovascular medical technology specialist Invatec.