Monday, January 12, 2009

Ablation Frontiers Acquired By Medtronic

Carlsbad-based Ablation Frontiers, a venture-backed provider of products for the treatment of atrial fibrillation, has been acquired by Medtronic for $225M. According to Medtronic, it will pay $225M plus additional, unspecified contingent payments depending on meeting certain milestones. Ablation Frontiers will become AF Solutions. Ablation Frontiers develops catheters used to treat atrial fibrillation, and is venture backed by Aberdare Ventures, Affinity Ventures, Hexagon Investments, Novartis Bioventures, Pequot Ventures, Trellis Health Ventures, Venture Lending & Leasing III, Versant Ventures, and WS Investment Company. Medtronic said the deal is subject to regulatory clearance, but has been approved by its shareholders.