Medtronic in $3.9 Billion Kyphon Acquisition

July 27, 2007

Cleary Gottlieb is representing Medtronic, Inc. in connection with its pending acquisition of Kyphon, Inc. The all cash transaction announced on July 27 is valued at $3.9 billion, and is expected to be completed in the first quarter of 2008.

Medtronic is a global leader in medical technology, alleviating pain, restoring health and extending life for millions of people around the world. Kyphon develops and markets medical devices designed to restore and preserve spinal function and diagnose sources of low back pain using minimally invasive technologies.