Sources inform "Globes" that medical device start-up Ventor Technologies Ltd. is in advanced negotiations to be acquired by Medtronic (NYSE: MDT) for about $300 million.
Ventor and existing investors Pitango Venture Capital, Medica, and co-founder Dr. Shimon Eckhouse all denied that the firm was in talks to be sold. Medtronic did not respond.
Medtronic has previously invested over $10 million in the start-up. Ventor has raised a total of around $20 million, so investors will see a return of over 12 times their investment. For the Israeli investors who invested in the company at an early stage, the return can be even greater.
Ventor has developed an aortic valve prosthesis. The prosthesis can be implanted into a beating heart using a catheter, under local anesthesia. The valve has a unique geometric shape that improves hemodynamic performance.
Ventor was founded by Dr. Ehud Shvemental of Sheba Medical Center Tel Hashomer, Rafi Benary, and Dr. Shimon Eckhouse. Its president and CEO is Guy Ezekiel.
Published by Globes [online], Israel business news - www.globes-online.com - on February 16, 2009
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