-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, Ta4g9eKG9gCKuBsVjhbDt2vVWVdnETrPOIni6/rif176FW5uVKPQvYfkbbBpr1IR RMmbbSEXT+y8WjEnMUJmnw== 0000914190-98-000342.txt : 19980923 0000914190-98-000342.hdr.sgml : 19980923 ACCESSION NUMBER: 0000914190-98-000342 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19980922 ITEM INFORMATION: ITEM INFORMATION: FILED AS OF DATE: 19980922 SROS: NYSE FILER: COMPANY DATA: COMPANY CONFORMED NAME: MEDTRONIC INC CENTRAL INDEX KEY: 0000064670 STANDARD INDUSTRIAL CLASSIFICATION: ELECTROMEDICAL & ELECTROTHERAPEUTIC APPARATUS [3845] IRS NUMBER: 410793183 STATE OF INCORPORATION: MN FISCAL YEAR END: 0430 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 001-07707 FILM NUMBER: 98712999 BUSINESS ADDRESS: STREET 1: 7000 CENTRAL AVE NE STREET 2: MS 316 CITY: MINNEAPOLIS STATE: MN ZIP: 55432 BUSINESS PHONE: 6125744000 8-K 1 FORM 8-K FOR PRESS RELEASE SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): September 22, 1998 Medtronic, Inc. (Exact name of Registrant as Specified in its Charter) Minnesota (State or Other Jurisdiction of Incorporation) 1-7707 41-0793183 (Commission File Number) (IRS Employer Identification No.) 7000 Central Avenue N.E. Minneapolis, Minnesota 55432-3576 (Address of Principal Executive Offices and Zip Code) (612) 574-4000 (Registrant's telephone number, including area code) Not Applicable (Former Name or Former Address, if Changed Since Last Report) Item 5. Other Events On September 22, 1998, the Registrant issued a press release announcing the signing of an agreement to acquire all of the assets and certain liabilities of Midas Rex of Fort Worth, Texas. The full text of the press release is set forth in Exhibit 99 attached hereto and is incorporated in this Report as if fully set forth herein. Item 7. Financial Statements and Exhibits Exhibit 99. Press release dated September 22, 1998. SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. MEDTRONIC, INC. By /s/ Robert L. Ryan Date September 22, 1998 Robert L. Ryan Senior Vice President and Chief Financial Officer EXHIBIT INDEX Medtronic, Inc. Form 8-K Current Report Dated September 22, 1998 Exhibit Number Description 99 Press release dated September 22, 1998 EX-99 2 PRESS RELEASE Exhibit 99 Midas Rex Medtronic Stephen A. Koffler Chris O'Connell President, Koffler & Company Investors Relations 310/312-0877 612/514-3038 Jessica Stoltenberg Public Relations 612/514-3333 MEDTRONIC ACQUIRES MIDAS REX, A TECHNOLOGY LEADER IN HIGH SPEED SURGICAL INSTRUMENTATION MINNEAPOLIS, MN, September 22, 1998 -- In a move designed to significantly expand its neurosurgical product offerings, Medtronic, Inc. (NYSE:MDT), today announced that it had signed a definitive agreement to acquire Midas Rex, L.P., of Fort Worth, Texas. Medtronic will acquire all assets and certain liabilities of Midas Rex, a privately held company with anticipated 1998 revenues of approximately $55 million. Medtronic expects the transaction to be neutral to earnings in fiscal 1999 and accretive thereafter. Further financial details were not disclosed. Midas Rex, which will become a part of Medtronic's PS Medical neurosurgery business, is the market leader in high-speed neurological powered instruments, including pneumatic instrumentation for surgical dissection of bones, biometals, bioceramics and bioplastics. Other instruments manufactured by Midas Rex assist in orthopedic, otolaryngological, maxillofacial and craniofacial procedures, as well as plastic surgery. "We are delighted to be joined by this successful company, whose neurosurgical powered instruments set the `gold standard' in the industry," said John Meslow, senior vice president and president, Medtronic Neurological Business. "Their number one market position in neurological instrumentation and their outstanding training institute will significantly add to Medtronic's capabilities in these areas." Since its founding in 1962, Midas Rex has trained approximately 5,000 neurosurgeons in the United States to use the latest technological advances in this field. In 1978, the Midas Rex Institute was formed as a source of educational programs and training opportunities for surgeons and operating room personnel. Led by 16 Ph.D. employees who specialize in educational training and product development, the Midas Rex Institute offers more than 100 workshops each year, worldwide. Midas Rex, a privately held company with more than 180 employees, now markets its products through independent distributors in 48 countries. Midas Rex will be a part of Medtronic's PS Medical neurosurgery business based in Goleta, California. PS Medical is the world market leader in cerebrospinal fluid (CSF) shunts, devices implanted to prevent a dangerous accumulation of fluids in the brain's ventricles in cases of hydrocephalus or brain injury. In addition, the company manufactures and distributes neurosurgical implants such as catheters, reservoirs and fluid drainage systems for access throughout the central nervous system. Medtronic, Inc., is the world's leading medical technology company specializing in implantable and interventional therapies. Its Internet address is www.medtronic.com. * * * Any statements made regarding anticipated financial results are forward-looking statements which are subject to risks and uncertainties, such as those described in the company's Annual Report on Form 10K for the year ended April 30, 1998. Actual results may differ materially from anticipated results. -----END PRIVACY-ENHANCED MESSAGE-----