-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 S2jtBEnTPEpnxTi+Q3WaMnBsPI2aspj02ZNL/8HIotcFp7PHph7emF3H6nhRJ0SI
 hR6+Lk7NRskNMKNPYHfucA==

<SEC-DOCUMENT>0000899140-04-000108.txt : 20040203
<SEC-HEADER>0000899140-04-000108.hdr.sgml : 20040203
<ACCEPTANCE-DATETIME>20040203101719
ACCESSION NUMBER:		0000899140-04-000108
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20040130
FILED AS OF DATE:		20040203

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MICRO THERAPEUTICS INC
		CENTRAL INDEX KEY:			0000311407
		STANDARD INDUSTRIAL CLASSIFICATION:	SURGICAL & MEDICAL INSTRUMENTS & APPARATUS [3841]
		IRS NUMBER:				330569235
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		2 GOODYEAR
		CITY:			IRVINE
		STATE:			CA
		ZIP:			92618
		BUSINESS PHONE:		9498373700

	MAIL ADDRESS:	
		STREET 1:		2 GOODYEAR
		CITY:			IRVINE
		STATE:			CA
		ZIP:			92618

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			EMMITT RICHARD B
		CENTRAL INDEX KEY:			0001083927
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-06523
		FILM NUMBER:		04561169

	BUSINESS ADDRESS:	
		STREET 1:		18 BANK STREET
		CITY:			SUMMIT
		STATE:			NJ
		ZIP:			07901
		BUSINESS PHONE:		9082773737

	MAIL ADDRESS:	
		STREET 1:		18 BANK STREET
		CITY:			SUMMIT
		STATE:			NJ
		ZIP:			07901
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>emmitt_mti4-020304ex.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0201</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2004-01-30</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0000311407</issuerCik>
        <issuerName>MICRO THERAPEUTICS INC</issuerName>
        <issuerTradingSymbol>MTIX</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001083927</rptOwnerCik>
            <rptOwnerName>EMMITT RICHARD B</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>25 DEFOREST AVENUE</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>SUMMIT</rptOwnerCity>
            <rptOwnerState>NJ</rptOwnerState>
            <rptOwnerZipCode>07091</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock, par value $0.001 per share</value>
            </securityTitle>
            <transactionDate>
                <value>2004-01-30</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>J</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
                <footnoteId id="F1"/>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>481502</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>2.73</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>24818261</value>
                    <footnoteId id="F1"/>
                    <footnoteId id="F2"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See footnotes</value>
                    <footnoteId id="F1"/>
                    <footnoteId id="F2"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Exchangeable Promissory Note</value>
                <footnoteId id="F1"/>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>2.73</value>
                <footnoteId id="F1"/>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2004-01-30</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>J</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
                <footnoteId id="F1"/>
            </transactionCoding>
            <transactionAmounts>
                <transactionTotalValue>
                    <value>1300000</value>
                    <footnoteId id="F1"/>
                </transactionTotalValue>
                <transactionPricePerShare>
                    <value>0</value>
                    <footnoteId id="F1"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <value>2003-12-04</value>
                <footnoteId id="F1"/>
            </exerciseDate>
            <expirationDate>
                <value>2004-12-04</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock, par value $0.001 per share</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>481502</value>
                    <footnoteId id="F1"/>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>0</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See footnotes</value>
                    <footnoteId id="F1"/>
                    <footnoteId id="F2"/>
                </natureOfOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">Pursuant to a Note Purchase Agreement, dated as of December 4, 2003, by and among Micro Therapeutics, Inc. (the &quot;Company&quot;), Vertical Fund I, L.P., a Delaware limited partnership (&quot;VFI&quot;), Vertical Fund II, L.P., a Delaware limited partnership (&quot;VFII&quot; and together with VFI, &quot;Vertical&quot;), and the other investors named therein (the &quot;Note Purchase Agreement&quot;), Vertical agreed to purchase an aggregate principal amount of $1,300,000 of exchangeable promissory notes from the Company (the &quot;Exchangeable Notes&quot;).  The Exchangeable Notes accrued interest at 7% per annum, which interest compounded quarterly.  On January 30, 2004, Vertical exchanged all of the Exchangeable Notes held by Vertical for 481,502 shares of common stock.  The number of shares of common stock received by Vertical was determined by dividing (i) the aggregate principal balance on such Exchangeable Notes plus accrued and unpaid interest thereon at January 30, 2004 b
y (ii) $2.73.</footnote>
        <footnote id="F2">The reporting person, a director of the Company, is a general partner of The Vertical Group, L.P., a Delaware limited partnership, the sole general partner of VFI and VFII.  VFI and VFII are members of ev3 LLC, a Delaware limited liability company, which wholly owns Micro Investment, LLC, a Delaware limited liability company (&quot;Micro LLC&quot;).  By reason of the provisions of Rule 16a-1 of the Securities Exchange Act of 1934, as amended, the reporting person may be deemed to be the beneficial owner of an indeterminate portion of the 24,336,759 shares of the Company's common stock owned by Micro LLC, although he disclaims beneficial ownership of those shares, except to the extent of any indirect pecuniary interest therein.  The reporting person disclaims beneficial ownership of all shares of the Company's common stock beneficially owned by Vertical, except to the extent of any indirect pecuniary interest therein.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Richard B. Emmitt</signatureName>
        <signatureDate>2004-01-30</signatureDate>
    </ownerSignature>
</ownershipDocument>

</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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