Tyco to Acquire InnerDyne for $180 Million

(Pembroke, Bermuda) has agreed to acquire InnerDyne, Inc. (Sunnyvale, CA, USA) for around US$180 million. InnerDyne designs, develops, and manufactures access products for minimally invasive surgery such as laparoscopy. These access products incorporate the company's radial dilation technology, including the patented Step expandable needle system. Radial dilation provides surgical access through the expansion of a very small opening using progressively larger blunt instruments.

Tyco is a large diversified manufacturing and service company, whose medical holdings include U.S. Surgical Corp. Tyco is a leading provider of fire protection systems and electronic security systems.

"The combination of U.S. Surgical's significant sales, marketing, and distribution capabilities and InnerDyne's complementary products will multiply the potential for growth in this important area of medical technology,” said L. Dennis Kozlowski, chairman and CEO of Tyco.