Medtronic completes acquisition of CryoCath

By Lisa Kerner

Charlotte, N.C., Dec. 19 - Medtronic, Inc. acquired the 1,574,488 remaining shares of CryoCath Technologies Inc. that it did not already own for C$8.75 per share in a deal valued at C$400 million.

The compulsory acquisition was made under section 51 of the Companies Act (Québec) and followed the offer made by Medtronic, a Minneapolis-based medical device company, on Oct. 3.

CryoCath will seek to have its shares delisted by the Toronto Stock Exchange, a Medtronic news release said.

Located in Montreal, CryoCath's cryotherapy products are used to treat cardiac arrhythmias.

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