Medtronic is paying $46.6m at HK3.80 per share for a 19% equity interest in the Chinese company, followed by a $19.6m convertible note for an additional 7.4% stake.
Medtronic, a US-based medical device maker that at the start of the month acquired China Kanghui Holdings, is investing $66.2m to acquire a minority stake in LifeTech Scientific, a Hong Kong-listed maker of cardiovascular devices.
Medtronic is paying $46.6m at HK3.80 per share for a 19% equity interest in the Chinese company, followed by a $19.6m convertible note for an additional 7.4% stake. The deal gives Medtronic the right to sell LifeTech products around the world and the opportunity to acquire…
