Medtronic (NYSE:MDT) (Dublin) is set to acquire Twelve (Redwood City, Calif.) in a move that could position the company quite firmly in the transcatheter mitral valve replacement (TMVR) space. Medtronic said it will pay up to $458 million for the private company. About $408 million would be paid at closing and $50 million would be contingent upon Twelve receiving CE mark for its TMVR device. The transaction is expected to close in October.