Advanced Neuromodulation Systems buys neurostimulation firm:

Dallas, Texas-based Advanced Neuromodulation Systems (ANS) has entered into an agreement to acquire Micronet Medical of St Paul, Minnesota. Micronet's very thin Axxess spinal cord stimulation lead is designed for maximum manoeuvrability during implantation, and ANS plans to adapt it for use with its own radiofrequency and pulse generator systems by the third quarter of 2003. Micronet's other assets and operations will become part of a separate, unaffiliated company operating in the contract manufacturing and sterilisation fields. ANS will pay $5.7m in cash and stock and up to $9m more if certain milestones are reached.