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Arteriocyte Partners with Medtronic

Arteriocyte Medical Systems,  a clinical stage biotechnology company in Cleveland, Ohio and Hopkinton, Mass., has formed a partnership with Minneapolis-based medical-technology company Medtronic Inc. (NYSE: MDT).  The partnership will acquire the Magellan Platelet Business, a exclusive worldwide distribution agreement in the cardiac-surgery market for the next five years, and a manufacturing-services contract for the Magellan products. DW Healthcare Partners and Comerica Bank's Technology and Life Sciences Division provided financing. Roberts Mitani LLC acted as investment banker for Arteriocyte Medical, which was formed in 2007 by DW Healthcare Partners and Arteriocyte Inc.