April 25, 2007 - Medical device maker Medtronic Inc. said it plans to buy the O-arm imaging assets of privately-held Breakaway Imaging LLC for an undisclosed amount.
Medtronic said the technology — which provides complete multidimensional surgical imaging in real-time — is essential to image-guided surgery, and will further the adoption of minimally invasive spine surgeries and other novel therapies.
The Massachusetts-based Breakaway signed a deal with Medtronic in September 2005 to grant exclusive distribution of Breakaway's Imaging system to the medical devise maker. Under the terms of that deal, Medtronic had an option to acquire Breakaway assets.
The O-arm Imaging System received FDA clearance earlier this year.
Medtronic said it expects the acquisition to close in June.
Shares of Medtronic rose 35 cents to $52.91 in morning trading on the New York Stock Exchange.