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MEDTRONIC COMPLETES ACQUISITION OF CARDIORHYTHM, EXPANDING ITS TACHYARRHYTHMIA BUSINESS

 MEDTRONIC COMPLETES ACQUISITION OF CARDIORHYTHM,
 EXPANDING ITS TACHYARRHYTHMIA BUSINESS
 MINNEAPOLIS, May 22 /PRNewswire/ -- Medtronic, Inc. (NYSE: MDT), announced today that it had completed the acquisition of CardioRhythm, a manufacturer of electrophysiological catheters for the diagnosis and treatment of certain cardiac arrhythmias.
 CardioRhythm, San Jose, Calif., will operate as a wholly owned subsidiary of Medtronic and a unit of its Tachyarrhythmia Management business. Financial terms were not disclosed.
 CardioRhythm diagnostic catheters, the Torqr(TM) and the Voyagr(TM), will be offered by the worldwide Medtronic salesforce. Its RF Catheter Ablation System, the Atakr(TM), will be added to the product line once it is approved for commercial release by regulatory authorities.
 "Medtronic is the world leader in cardiac pacing," said Harry S. Robbins, CardioRhythm's president and chief executive officer. "We all look forward to joining Medtronic's winning team." Robbins, who founded CardioRhythm last year with Andrew M. Thompson and George M. Savage, M.D., noted that the acquisition gives Medtronic immediate entry to the growing field of catheter treatment of certain cardiac arrhythmias.
 Petri Vainio, general partner at Sierra Ventures, the California- based venture capital firm that led startup financing for CardioRhythm, said, "Both parties stand to gain enormously in this relationship. Medtronic acquires a company that has assembled a superior management team and excellent products to address a rapidly growing market opportunity. CardioRhythm will benefit from the support of the several hundred people in Medtronic's worldwide sales, marketing and distribution organization."
 Sierra's co-investors in CardioRhythm include B.J. Cassin, who has served as chairman of the board, and Donald Lucas. Both have previously backed several successful Silicon Valley high-tech companies.
 Medtronic, Inc., headquartered in Minneapolis, is a leading developer and manufacturer of biomedical devices for improving cardiovascular and neurological health.
 -0- 5/22/92
 /CONTACT: Dale Beumer (Investor), 612-574-3038, or Dick Reid, (Public Relations), 612-574-3052, both of Medtronic/
 (MDT) CO: Medtronic; CardioRhythm ST: Minnesota, California IN: MTC SU: TNM


MA -- MN015 -- 3277 05/22/92 11:41 EDT
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Publication:PR Newswire
Date:May 22, 1992
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