Medtronic expands atrial fibrillation effort with equity stake in PharmaTarget.
This article was originally published in The Gray Sheet
Executive Summary
MEDTRONIC 9% EQUITY STAKE IN PHARMATARGET will allow the firm to monitor development of PharmaTarget's implantable pharmacologic atrioverter pump for atrial fibrillation therapy. Under an agreement announced in mid-December, Medtronic took a 9% position in the Minneapolis-based company for an undisclosed amount of cash. The investment also gives Medtronic VP-Corporate Technology Larry Shearon a seat on PharmaTarget's board.