Medtronic Plans to Buy Spinal Dynamics
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Associated Press
Medtronic Inc. said it would buy Spinal Dynamics Corp., a Seattle-based developer of an artificial cervical disc, for $269.5 million in cash and stock.
Minneapolis-based Medtronic has held a minority investment in the privately held company since February 2001. The companies expect to complete the transaction, which is subject to regulatory approval, before the end of the year.
Medtronic shares fell 45 cents to $42.85 on the NYSE.
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