- TM Capital advised CryoCath Technologies, of Montreal, Canada (TSX: CYT) in its acquisition by Medtronic, Inc. (NYSE: MDT), the world’s largest medical technology company
- Medtronic offered C$425mm enterprise value in an all-cash takeover bid; the offer represented a 101% premium to CryoCath’s share price prior to announcement and 10.5x current year revenue
- CryoCath is the leading provider of cryotherapy products to treat cardiac arrhythmias, utilized in more than 500 centers around the world
- At the time of the transaction, CryoCath’s Arctic Front cryoablation catheter-based product for the treatment of atrial fibrillation was marketed in Europe and was the subject of a pivotal clinical trial for approval in the United States
Client Testimonial
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