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Biotech / Medical : Angeion Corp. (ANGN)

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To: r laird who wrote (1040)	9/17/1999 10:47:00 AM
From: Rainy_Day_Woman	Read Replies (1) of 1046

current price : 3 5/8 15/16 (34.88) here's why: Angeion to Grant Medtronic Non-Exclusive License to its Patent Portfolio MINNEAPOLIS, Sept. 17 /PRNewswire/ -- Angeion Corporation (Nasdaq: ANGN - news) announced today that it will grant to Medtronic, Inc. (NYSE: MDT - news) a non-exclusive license to all of Angeion's patents and patent applications for cardiac stimulation devices. Angeion will also sell to Medtronic its unfiled patent disclosures for cardiac stimulation devices. In exchange, Angeion will receive $9 million in cash from Medtronic. Upon closing of the transaction, Angeion and Medtronic will enter into a mutual release for any past infringement claims. Closing of the transaction is subject to the approval of Angeion shareholders and bondholders. Angeion plans to hold a meeting of shareholders later this year to vote on the agreement. full story: biz.yahoo.com

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