MINNEAPOLIS (AP) -- Medtronic Inc., a medical device maker, said Thursday it completed its $325 million buyout of heart treatment-maker CryoCath.
Medtronic agreed to buy CryoCath in late September for $8.75 Canadian per share, or $400 million Canadian. More than 41.1 million shares, or 96.3 percent of shares in Montreal-based CryoCath, were deposited before Medtronic's offer expired on Wednesday. Medtronic will make its payment by Friday.
CryoCath makes the Arctic Front system, which treats abnormal heart rhythms by using extreme cold to destroy some tissue. The method is known as cryoablation technology.