FDAnews Device Daily Bulletin

MEDTRONIC BUYS ODIN FOR $9M

Aug. 28, 2006
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Medical devices giant Medtronic Inc. has acquired Israeli start-up Odin Medical Technologies Ltd., a developer of MRI systems for brain surgery, for $9 million. $30 million was invested in Odin since it was founded in 1995. Medtronic led Odin's third financing round, in which it raised $4 million at a company value of $30-40 million. Globes (http://www.globes.co.il/serveen/globes/DocView.asp?did=1000126419&fid=1725)