Medtronic (MDT) agrees to pay $816M for China Kanghui, a provider of orthopedic implants in a...

|About: Medtronic plc (MDT)|By:, SA News Editor

Medtronic (MDT) agrees to pay $816M for China Kanghui, a provider of orthopedic implants in a deal that expands the U.S. company's presence in China. Medtronic's offer of $30.75/ADR represents a 22.5% premium to Kanghui close yesterday. Barclays analyst Jason Mann says Kanghui provides Medtronic with "access to thousands of hospitals...(in) the fastest growing orthopedic market." (PR)