Medtronic Invests in GI Dynamics

Xconomy Boston — 

GI Dynamics, the Lexington, MA-based maker of a device for treating obesity and diabetes, said today that the device giant Medtronic (NYSE: MDT) has made a strategic investment in the company. The amount wasn’t disclosed in a statement, although GI Dynamics submitted a regulatory filing that says it just raised $15 million from a single investor. The GI Dynamics technology, called EndoBarrier, is like a sleeve that lines the gut and creates a barrier that controls how food is absorbed into the small intestine. Last month, the company received clearance to market the product in Europe.