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Medtronic Buys 15% of Shandong Wiegao; Opens JV

publication date: Dec 24, 2008

Medtronic, Inc. has completed its equity investment in fellow medical device maker Shandong Wiegao Group Medical Polymer Company Limited. The company paid HK $1.7 billion (US $221 million) for a 15% interest in Wiegao. Following the investment, Medtronic and Wiegao have established a joint venture (controlled 51/49 by Medtronic), which will market Medtronic's spinal devices and Wiegao's orthopedic products in China. More details...

Stock Symbols: (NYSE: MDT) (HKEX: 8199)



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