Cleary Gottlieb is representing Medtronic in connection with its pending all cash acquisition of Invatec, an Italian company, and two related companies, Fogazzi and Krauth Cardio-Vascular, based in Italy and Germany, respectively. The agreement was signed on January 22 and calls for Medtronic to make an initial payment of $350 million to Invatec and up to $150 million in earn-out payments for Invatec’s achievement of specific milestones.
Medtronic is the global leader in medical technology – alleviating pain, restoring health, and extending life for millions of people around the world. Invatec is a developer of innovative medical technologies for the interventional treatment of cardiovascular disease; Fogazzi provides polymer technology to Invatec, and Krauth Cardio-Vascular distributes Invatec products in Germany.
