LivaNova (NSDQ:LIVN) said today it closed its $250 million acquisition of cardiopulmonary temporary support solutions developer TandemLife .
In the deal, London-based LivaNova said it paid $200 million up front with an additional $50 million to be paid based on specific regulatory milestones. The company said it expects the acquisition to be moderately accretive this year.
“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. Expanding our existing line of cardiopulmonary products will advance patient care options and improve quality of medical care,” LivaNova CEO Damien McDonald said in a press release.
Pittsburgh-based TandemLife produces four product systems, including the ExtraCorporeal Life Support and Percutaneous Mechanical Circulatory Support systems, which are all built around a common pump and controller.
The TandemLife systems include pumps, oxygenators and cannulae for comprehensive, acute cardiac, pulmonary or cardiopulmonary care to provide cardiopulmonary support through veno-arterial extracorporeal life support.
Last week, LivaNova said it won expanded CE Mark labeling for its Bicarbon aortic heart valves, now cleared for use with low-dose anticoagulant therapy.
