Medtronic Signs Option to Pay $28 Million for Balloon Catheter from QT Vascular

Medtronic, a major US medical device company, signed an option to acquire the Chocolate® PTA Balloon Catheter from Singapore's QT Vascular for $28 million. Medtronic plans to exercise the option when the product achieves specific milestones, which were not disclosed. In February, Medtronic agreed to a five-year agreement to distribute the Chocolate® PTA Balloon Catheter in the US and Europe, where it is already approved for use. The device is designed for coronary angioplasty procedures. More details.... Stock Symbols: (NYSE: MDT) (SGX: 510) Share this with colleagues: // //