Business news for Tue, 18 Dec 2007 & with word buys. 7 news.

UNITED States medical equipment maker Medtronic Inc will pay HK$1.73 billion (US$221 million) for a 15-percent stake in a Chinese medical accessories supplier to expand in China, it said yesterday. Medtronic, the world's largest maker of medical products for spinal conditions, will also set up a joint venture with Shandong Weigao Group Medical Polymer Co to market therapies in the spinal and orthopedics sectors in China, according to Business Wire. "China is key to our global strategy as we continue to expand our geographic footprint," said Bill Hawkins, Medtronic president and chief executive. "Weigao has a broad orthopedic and trauma product line that complements Medtronic's offerings, but even more importantly, we feel we can generate synergies with their very strong presence and reputation in China." Medtronic will gain the 15-percent stake in Shandong Weigao through buying about 81 million newly issued shares at HK$11 apiece from Weigao, which is

Independent News & Media has agreed to buy the Sligo Champion for a sum believed to be in excess of ?20m.

A month after InPhonic Inc. filed for bankruptcy protection, the U.S. Bankruptcy Court for the District of Delaware has approved of the company's sale to private equity firm Versa Capital Management. (INPC)

"Quarterlife," a 20something Internet show that debuted on MySpace and www.quarterlife.com in November, is coming to NBC in February.

Media group UTV has bought Dublin radio station FM104 from Communicorp Group Ltd for €52m.

Africa's largest media firm, Naspers, is to buy UK internet auction firm Tradus, formerly QXL, for £946m.

THE biophysics company Avacta, which was launched as a spin-out of Leeds University, has secured its first acquisition in a deal worth £3m.