Medtronic acquires Restore Medical

Jul 18, 2008 (Datamonitor via COMTEX) -- REST | Quote | Chart | News | PowerRating -- Medtronic, a medical technology company, has acquired Restore Medical, which develops invasive medical devices for the effective treatment of chronic snoring, obstructive sleep apnea and other sleep breathing disorders.

Under the terms of the agreement announced earlier, Restore shareholders will receive $1.60 per share in cash for each share of Restore common stock they own. The total value of the transaction, including payment of Restore debt, was approximately $29 million.

Restore Medical's Pillar palatal implant system will be integrated into the surgical technologies business unit at Medtronic. The Pillar system is said to be a minimally invasive, implantable medical device used to treat the soft palate component of sleep breathing disorders, including mild to moderate obstructive sleep apnea and snoring.

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