Medtronic Buying VC-Backed Ablation Frontiers
Medtronic Inc. (NYSE: MDT) has agreed to acquire Ablation Frontiers Inc., a Carlsbad, Calif.-based medical device company focused on developing treatments for irregular heart rhythms. The deal includes an up-front payment of $225 million, plus possible earn-outs based on the achieving of clinical milestones. Ablation Frontiers had raised around $40.3 million in VC funding since 2004, from firms like Novartis Venture Fund, Affinity Ventures, Hexagon Investments, Trellis Health Ventures, Versant Ventures, Aberdare Ventures and Pequot Ventures.
12 January 2009•3 mins read
