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news.Medtronic, a medical technology company, has acquired Restore Medical, which develops invasive medical devices for the effective treatment of chronic snoring, obstructive sleep apnea and other sleep breathing disorders.
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Under the terms of the agreement announced earlier, Restore shareholders will receive $1.60 per share in cash for each share of Restore common stock they own. The total value of the transaction, including payment of Restore debt, was approximately $29 million.
Restore Medical’s Pillar palatal implant system will be integrated into the surgical technologies business unit at Medtronic. The Pillar system is said to be a minimally invasive, implantable medical device used to treat the soft palate component of sleep breathing disorders, including mild to moderate obstructive sleep apnea and snoring.