Medtronic to Acquire Ardian

November 22, 2010—Medtronic, Inc. (Minneapolis, MN) and Ardian, Inc. (Mountain View, CA) announced that they have entered into a merger agreement whereby Medtronic will acquire Ardian.

Ardian develops catheter-based therapies to treat hypertension and related conditions. Medtronic stated that Ardian's investigational catheter-based treatment for uncontrolled hypertension through renal denervation complements Medtronic's expertise in catheter design and ablation technologies and augments Medtronic's interventional therapies.

According to the companies, data from the Symplicity HTN2 clinical study of Ardian's Symplicity catheter system were recently released at the American Heart Association 2010 Scientific Sessions in Chicago and published online ahead of print in The Lancet. The study found that patients treated with the Ardian device experienced a 33 mm Hg greater reduction in systolic blood pressure at 6 months (P < .0001) than the control group. The Symplicity catheter system has received European CE Mark approval and Australian Therapeutic Goods Administration approval, but it is not approved for sale in the United States, the companies advised.


The agreement calls for Medtronic to make an up-front cash payment of $800 million, plus commercial milestones equal to the annual revenue growth through the end of Medtronic's fiscal year 2015. Medtronic has previously invested in Ardian and currently holds an 11% ownership stake in the company. The transaction is expected to close in Medtronic's third fiscal quarter of 2011 and is subject to customary closing conditions, including United States and foreign regulatory clearances.