Medtronic, Inc. announced yesterday that it has acquired Visualase, Inc. with an all-cash transaction of up to $105 million. An initial payment of $70 million was paid and additional payments of up to $35 million will be paid when certain milestones are achieved.

Visualase is a privately held company located in Houston, Texas that sells MR-guided laser and image-guided systems for minimally invasive neurosurgeries. The company's MR-guided laser ablation system will be added to Medtronic's portfolio within its Surgical Technologies business and it will also be incorporate into its larger neuroscience offerings.

"The transaction with Medtronic is critical to ensure more patients have access to our beneficial technology," William Hoffman, CEO of Visualase, said in a statement. "We are proud of the MRI-guided laser ablation technology and other products we have developed and their impact on the well-being of patients."

Medtronic said in a statement that their goal is to become the "partner of choice" for neurosurgeons and neuroscience centers around the world.

Before the acquisition, Medtronic invested in Visualase and had an ownership stake in the company. Medtronic anticipates that the net impact of this transaction will be neutral to fiscal year 2015 earnings, and then increase after that.

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