Update: Altered to reflect only official details from LivaNova.
San Diego-based ImThera’s flagship product is the Aura6000, an implanted hypoglossal nerve stimulator that uses a pair of implanted components, one near the collarbone and one in the upper neck, to stimulate tongue muscles to help control upper airway flow and reduce or eliminate sleep apnea.
LivaNova, already in investor in ImThera, paid $78 million up front to acquire the rest of the company, with the remaining $147 million due on regulatory and sales milestones.
The deal was originally announced last December, with LivaNova saying that the deal was expected to deliver “near-term” accretion.
Earlier this month LivaNova, formed by the $2.7 billion merger of Italy’s Sorin and Cyberonics in October 2015, inked a deal to sell its cardiac rhythm management business to China’s MicroPort Scientific (HK:00853) for $190 million in cash.