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Medtronic Completes Acquisition of Transneuronix Jul 5, 2005 |
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Medical appliance maker Medtronic, Inc. (Minneapolis, MN, U.S.) announced that it has completed its previously announced acquisition of Transneuronix, Inc., a privately held medical device company focused on therapies designed to treat obesity by electrical stimulation of the stomach.
The acquisition follows Medtronic's recent announcement regarding the formation of a new business unit, Medtronic Obesity Management. Transneuronix has been conducting research using gastric electrical stimulation for the treatment of obesity for more than 8 years in the U.S. and Europe utilizing an implantable pacemaker-like device that delivers electrical pulses to the stomach.