LONDON--(BUSINESS WIRE)--LivaNova PLC (NASDAQ:LIVN) (“LivaNova” or the “Company”), a market-leading medical technology company, today announced it closed its acquisition of TandemLife. Previously, on Feb. 14, LivaNova announced its intent to acquire TandemLife, a privately held company focused on advanced cardiopulmonary temporary support solutions.
“The acquisition of TandemLife allows us to complement our portfolio with a complete set of solutions for Extracorporeal Life Support and Percutaneous Mechanical Circulatory Support,” said Damien McDonald, LivaNova’s Chief Executive Officer. “Expanding our existing line of cardiopulmonary products will advance patient care options and improve quality of medical care.”
Under the terms of the agreement, LivaNova paid $200 million to TandemLife at closing with an additional $50 million to be paid based on specified regulatory milestones. The acquisition is projected to be modestly accretive in 2018.
CardiacAssist, Inc., dba TandemLife, is a growing, privately held medical device company headquartered in Pittsburgh, Pennsylvania, that developed the world’s first FDA-cleared and CE-marked short-term extracorporeal circulatory support platform. TandemLife products have provided critical cardiopulmonary support to thousands of patients in the top hospitals worldwide.
LivaNova PLC is a global medical technology company built on nearly five decades of experience and a relentless commitment to improve the lives of patients around the world. LivaNova’s advanced technologies and breakthrough treatments provide meaningful solutions for the benefit of patients, healthcare professionals and healthcare systems. Headquartered in London and with a presence in more than 100 countries worldwide, the company employs more than 4,500 employees. LivaNova operates as three business franchises: Cardiac Surgery, Neuromodulation and Cardiac Rhythm Management, with operating headquarters in Mirandola (Italy), Houston (U.S.A.) and Clamart (France), respectively.
For more information, please visit www.livanova.com.
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