Medtronic to Acquire Breakaway Imaging, LLC

Medtronic, Inc. (NYSE: MDT) announced today it has exercised its option to acquire the O-arm® Imaging System assets of Massachusetts-based Breakaway Imaging, LLC. The acquisition brings the O-arm Imaging System into a broad portfolio of image guided surgical solutions within the Navigation business at Medtronic.

The financial terms of the agreement, which is expected to close in June, are not being disclosed.

“The O-arm represents an important step forward in image-guided surgery for Medtronic’s customers and their patients,” said Jim Cloar, vice president and general manager of the Navigation business at Medtronic. “It will be an essential component in expanding the adoption of minimally invasive spine surgeries and opens the possibility for novel therapies which we believe are the wave of the future.”

The O-arm Imaging System, with a breakable gantry and flat screen detector, provides multi-dimensional surgical imaging. It provides surgeons with 3-D images, as well as multi-plane 2-D, and fluoroscopic imaging. It is intended for use in spinal and orthopedic surgical procedures and is in use in more than 20 locations worldwide. The O-arm Imaging System received FDA clearance in 2005.

About the Medtronic’s Navigation Business
Medtronic Navigation is the world leader in intraoperative Computer Assisted Surgery technologies with its full line of StealthStation® systems. StealthStation combines MRI, CT, or fluoroscopy with optical or proprietary AxiEM™ electromagnetic tracking systems to provide real-time visualization of surgical instruments overlaid on a computer-generated rendition of the patient. Medtronic Navigation has more than 2,000 systems installed worldwide to serve a wide range of medical disciplines including, cranial, spinal, orthopedic and ENT surgical applications.

About Medtronic
Medtronic, Inc. (www.medtronic.com), headquartered in Minneapolis, is the global leader in medical technology – alleviating pain, restoring health, and extending life for millions of people around the world.