Medtronic (NYSE:MDT) announced that it completed its previously announced $1.1 billion acquisition of Intersect ENT (Nasdaq:XENT).
Fridley, Minnesota-based Medtronic announced in August 2021 that it would acquire all outstanding shares of the Menlo Park, Calif.-based sinus implant maker for $28.25 per share in an all-cash transaction.
As a result of the transaction, Medtronic acquires Intersect ENT’s Propel and Sinuva drug-eluting sinus implant product lines and technology, intellectual property and the company’s Menlo Park facility. Intersect ENT’s employees also will join Medtronic, according to a news release.