LONDON--(BUSINESS WIRE)--Apr. 4, 2018--
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.
About TandemLife
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.
About LivaNova
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.
Safe Harbor Statement
This news release contains forward-looking statements within the meaning
of Section 27A of the United States Securities Act of 1933, as amended,
and Section 21E of the United States Securities Exchange Act of 1934, as
amended. Forward-looking statements are not historical facts but are
based on certain assumptions of management and describe LivaNova’s
future plans, strategies and expectations. Forward-looking statements
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including, but not limited to, "may," “could,” “seek,” “guidance,”
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similar expressions. Forward-looking statements contained in this news
release are based on information presently available to LivaNova and
assumptions that LivaNova believes to be reasonable, but are inherently
uncertain. As a result, LivaNova’s actual results, performance or
achievements may differ materially from those expressed or implied by
these forward-looking statements, which are not guarantees of future
performance or actions that may be taken by LivaNova and involve known
and unknown risks, uncertainties and other factors that are, in some
cases, beyond LivaNova’s control.
All information in this news release is as of the date of its release.
LivaNova does not undertake or assume any obligation to update publicly
any of the forward-looking statements in this news release to reflect
actual results, new information or future events, changes in assumptions
or changes in other factors affecting forward-looking statements, except
to the extent required by applicable law. If we update one or more
forward-looking statements, no inference should be drawn that we will
make additional updates with respect to those or other forward-looking
statements. We caution you not to place undue reliance on any
forward-looking statements, which are made only as of the date of this
news release.
View source version on businesswire.com: https://www.businesswire.com/news/home/20180404006291/en/
Source: LivaNova PLC
LivaNova PLC Investor Relations and Media
Karen King, +1
(281) 228-7262
Vice President, Investor Relations & Corporate
Communications
or
Deanna Wilke, +1 (281) 727-2764
Corporate
External Communications Manager
corporate.communications@livanova.com