Medical device giant Medtronic said it will acquire Salient Surgical Technologies in Portsmouth, NH for $525 million. Established in 1999 and formerly known as Tissuelink Medical, Salient makes devices that stop bleeding and seal wounds by allowing surgeons to apply focused radio-frequency energy and saline solution to collagen fibers in the body. Given Medtronic’s previous ownership stake in Salient, the actual price tag will be $480 million. Previous investors in Salient include Piper Jafray Ventures, Arnerich Messina & Associates, and Rivervest Venture Partners.
Author: Thomas Lee
Thomas Lee came to Xconomy from Internet news startup MedCityNews.com, where he launched its Minnesota Bureau. He previously spent six years as a business reporter with the Star Tribune in Minneapolis. Lee has also written for the St. Louis Post-Dispatch, Seattle Times, and China Daily USA. He has been recognized several times for his work, including the National Press Foundation Fellowship on Alzheimer's disease, the East West Center's Jefferson Fellowship, and the MIT Knight Center Kavli Science Journalism Fellowship on Nanotechnology. Lee is also a former Minnesota chapter president for the Asian American Journalists Association and a former board member with Mu Performing Arts in Minneapolis.
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