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Medtronic Buys Kyphon

Medtronic Inc. (Minneapolis) announced it will buy Kyphon Inc. (Sunnyvale, CA) for $3.9 billion. The purchase will expand Medtronic's spinal portfolio to include the treatment of older patients with spinal conditions. The addition of Kyphon will give patients of all age ranges access to more minimally invasive spinal treatments.

Months ago, Medtronic CEO Art Collins said that the company's growth was dependent upon having a diverse line of products. Once the acquisition is completed, Medtronic will also drop the lawsuit it filed against Kyphon over four patents involving catheters and spinal treatments.

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