LONDON--(BUSINESS WIRE)--Mar. 8, 2018--
LivaNova PLC (NASDAQ:LIVN) (“LivaNova”) today announced that it has
entered into a definitive Stock and Asset Purchase Agreement (“Purchase
Agreement”) to divest its Cardiac Rhythm Management business franchise
to MicroPort Scientific Corporation (“MicroPort”). LivaNova and
MicroPort executed and delivered the Purchase Agreement, pursuant to the
terms of a binding Letter of Intent, previously announced on November
20, 2017.
Today’s announcement follows the successful completion of works council
information and consultation requirements in France. The proposed
transaction is subject to customary regulatory and other closing
conditions. The transaction is expected to close in the second quarter
of 2018.
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, LivaNova has a presence in more than 100 countries worldwide.
The Company currently employs more than 4,500 employees, inclusive of
approximately 900 employed by our CRM business franchise.
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 press 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 can generally be identified by the use of forward-looking
terminology, including, but not limited to, "may," “could,” “seek,”
“guidance,” “predict,” “potential,” “likely,” "believe," "will,"
"expect," "anticipate," "estimate," "plan," "intend," "forecast," or
variations of these terms and similar expressions, or the negative of
these terms or similar expressions. Forward-looking statements contained
in this press 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. Investors are cautioned
that all such statements involve risks and uncertainties, including
without limitation, statements concerning the intended sale of the CRM
business franchise or the likelihood or timing of the contemplated
transaction. Important factors that may cause actual results to differ
include, but are not limited to: (i) the ability of LivaNova to
successfully complete the sale of the CRM business franchise; (ii)
failure to obtain applicable regulatory or other approvals in a timely
manner or otherwise; (iii) failure to satisfy other conditions to the
proposed transaction; (iv) the length of time necessary to consummate
the proposed transaction, which may be longer than anticipated for
various reasons; and (v) unexpected costs or liabilities that may arise
from the sale of the CRM business franchise. The foregoing list of
factors is not exhaustive. You should carefully consider the foregoing
factors and the other risks and uncertainties that affect LivaNova’s
business, including those described in the “Risk Factors” section of
LivaNova’s Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q,
Current Reports on Form 8-K and other documents filed from time to time
with the United States Securities and Exchange Commission. LivaNova does
not give any assurance (1) that LivaNova will achieve its expectations,
or (2) concerning any result or the timing thereof, in each case, with
respect to any regulatory action, administrative proceedings, government
investigations, litigation, warning letters, consent decree, cost
reductions, business strategies, earnings or revenue trends or future
financial results.
All information in this press 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 press 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
press release.
View source version on businesswire.com: http://www.businesswire.com/news/home/20180308005059/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
or
Media
Contact (General)
Andy Brimmer / Sharon Stern / Ed Trissel
Joele
Frank, Wilkinson Brimmer Katcher
+1 (212) 355-4449
LIVN-jf@joelefrank.com
or
Media
Contact (France)
Alexis Volanov
Volanov
+33 6 16 58
31 10
alexis.volanov@volanov.com
or
Media
Contact (Italy)
Luigi Norsa
Luigi Norsa & Associati S.r.L.
+39
335 710 47 51
luigi@luiginorsa.com