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Medtronic, Inc. (MDT) Scoops Up NJ-Based TYRX For $160 Million


1/7/2014 7:39:09 AM

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Medical device startup Tyrx hinted last year that it wanted to do some growing on its own before entertaining the idea of an IPO or a sale. Apparently, however, a $160 million offer from med tech giant Medtronic (NYSE: MDT) was too much to pass up. Tyrx today announced that it has been acquired by Medtronic in an all-cash deal. Medtronic will pay $160 million up front for the Monmouth Junction, NJ-based company, and has tied certain unspecified performance-based milestones to the deal as well.

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