NEWS RELEASE . Contacts for Medtronic: Contacts for Restore Medical: Media: Media and Investors: Chuck Grothaus 763-505-2614 J. Robert Paulson, Jr. 651-634-3104 Investors: Chris Geyen, CFO Jeff Warren 651-634-3113Acquisition Agreement • April 22nd, 2008 • Restore Medical, Inc. • Orthopedic, prosthetic & surgical appliances & supplies
MINNEAPOLIS — April 22, 2008 — Medtronic, Inc. (NYSE: MDT) and Restore Medical, Inc. (NASDAQ: REST) today announced that the companies have signed a definitive agreement under which Medtronic will pay $1.60 per share in cash for each share of Restore Medical stock. The total value of the transaction, including payment of Restore Medical debt will be approximately $29 million. The transaction, which is anticipated to close within 90 days, is expected to be accretive to Medtronic earnings in the first full fiscal year after closing.
