M&A Deal Summary

Medtronic Acquires ATS Medical

On April 29, 2010, Medtronic acquired medical products company ATS Medical from EW Healthcare Partners and Alta Partners for 370M USD

Acquisition Highlights
  • This is Medtronic’s 22nd transaction in the Medical Products sector.
  • This is Medtronic’s 14th largest (disclosed) transaction.
  • This is Medtronic’s 20th transaction in the United States.
  • This is Medtronic’s 5th transaction in Minnesota.

M&A Deal Summary

Date 2010-04-29
Target ATS Medical
Sector Medical Products
Buyer(s) Medtronic
Sellers(s) EW Healthcare Partners
Alta Partners
Deal Type Add-on Acquisition
Deal Value 370M USD

Target

ATS Medical

Minneapolis, Minnesota, United States
ATS Medical, Inc., engages in the development, manufacture and marketing of medical devices for the treatment of structural heart diseases. It offers prosthetic heart valves, such as ATS Open Pivot Heart Valve, as well as ATS 3F Aortic Bioprosthesis, a biological replacement aortic heart valve and heart valve repair products. The company also markets and sells surgical cryoablation products for the treatment of cardiac arrhythmias, and it is developing minimally invasive and off-pump aortic valve concepts.

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Buyer(S) 1

Buyer

Medtronic

Dublin, Ireland

Category Company
Founded 1949
Sector Medical Products
Employees95,000
Revenue 32.4B USD (2024)
DESCRIPTION
Medtronic's operational headquarters in Fridley, Minnesota.
Medtronic's operational headquarters in Fridley, Minnesota.

Medtronic is a global medical technology company whose products aim to alleviate pain, restore health, and extend life. It serves hospitals, physicians, clinicians, and patients in approximately 160 countries worldwide. Medtronic was founded in 1949 and is based in Dublin, Ireland with its operational headquarters in Fridley, Minnesota.


DEAL STATS #
Overall 23 of 59
Sector (Medical Products) 22 of 52
Type (Add-on Acquisition) 23 of 57
State (Minnesota) 5 of 6
Country (United States) 20 of 44
Year (2010) 2 of 3
Size (of disclosed) 14 of 36
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-01-25 Invatec

Bethlehem, Pennsylvania, United States

Invatec is an innovator in the development and commercialization of interventional coronary and peripheral products, with global headquarters in Europe. Driven by research and technology, Invatec actively collaborates with physicians and centers of excellence to develop products that will improve life expectancy and quality of life for patients.

Buy $500M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-11-16 Osteotech

Eatontown, New Jersey, United States

Osteotech, Inc. is a provider of biologic solutions for regenerative medicine to support surgeons and their patients in the repair of the musculoskeletal system through the development of innovative therapy-driven products that alleviate pain, promote biologic healing and restore function. Osteotech was formed in 1986 and is based in Eatontown, New Jersey.

Buy $123M

Seller(S) 2

SELLER

EW Healthcare Partners

Investor Investor Investor Investor Investor


Category Growth Capital Firm
Founded 1985
PE ASSETS 3.0B USD
Size Large
Type Sector Focused
DESCRIPTION

Essex Woodlands Health Ventures is a growth equity and venture capital specialist investment firm focused on opportunities across the healthcare sector. Specific areas of interest include biotechnology, pharmaceuticals, medical devices, and healthcare services/IT. Historically, Essex invested primarily in early and later-stage situations; however, today the firm also makes growth capital investments between $20 - $60 million in companies valued between $50 - $250 million, as well as private investments in public entities (PIPEs). Essex Woodlands was formed in 1985 and offices in Palo Alto, California; New York City; Houston, Texas; Shanghai and London.


DEAL STATS #
Overall 19 of 53
Sector (Medical Products) 9 of 24
Type (Add-on Acquisition) 12 of 34
State (Minnesota) 1 of 2
Country (United States) 17 of 46
Year (2010) 4 of 7
Size (of disclosed) 5 of 22
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-04-06 Ception Therapeutics

Malvern, Pennsylvania, United States

Ception Therapeutics, Inc. is a emerging biopharmaceutical company which develops novel products to address unmet medical needs.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-05-05 TearScience

Morrisville, North Carolina, United States

TearScience is a medical device manufacturer dedicated to evaluating meibomian gland health and treating meibomian gland dysfunction (MGD). TearScience was founded in 2005 and is based in Morrisville, North Carolina.

Buy -
SELLER

Alta Partners

Jackson, Wyoming, United States

Investor Investor Investor Investor


Category Venture Capital Firm
Founded 1996
PE ASSETS 2.6B USD
Size Large
Type Sector Focused
DESCRIPTION

Alta Partners is a venture capital firm that targets investments in early and later stage life science companies, including biopharmaceuticals, medical technology, and information technology businesses. Alta was formed as an early stage investor but has since expanded its investment range to provide later stage growth capital to private and young public companies. Alta was established in 1996 and is headquartered in San Francisco, California.


DEAL STATS #
Overall 43 of 84
Sector (Medical Products) 6 of 8
Type (Add-on Acquisition) 29 of 45
State (Minnesota) 4 of 4
Country (United States) 36 of 74
Year (2010) 2 of 5
Size (of disclosed) 11 of 23
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-04-07 Achaogen

San Francisco, California, United States

Achaogen is a bio-pharmaceutical company developing treatments for life-threatening infections caused by multi-drug resistant (MDR) Gram-negative bacteria, an area of critical unmet medical need. Achaogen was formed in 2002 and is based in San Francisco, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-05-03 Ellie Mae

Pleasanton, California, United States

Ellie Mae automates and digitizes the trillion-dollar residential mortgage industry. Through its Digital Lending Platform, Ellie Mae provides technology services to all participants in the mortgage supply chain, including its over 3,000 customers and thousands of partners and investors participating in the open networks who provide liquidity to the market. Lenders rely on Ellie Mae to securely manage and facilitate the exchange of data across the ecosystem to enable the origination of mortgages while maintaining strict adherence to various local, state, and federal compliance requirements. Ellie Mae was formed in 1997 and is based in Pleasanton, California.

Buy -