LivaNova (NSDQ:LIVN) said today it finalized the details in a deal to sell its cardiac rhythm management business to China’s MicroPort Scientific (HK:00853) in a deal worth $190 million.
The companies, which are already partners in a CRM joint venture in the People’s Republic, originally announced the deal last November.
London-based LivaNova said that its announcement follows “successful completion of works council information and consultation requirements in France,” and that it expects the deal to close during the second quarter of 2018.
LivaNova, formed by the $2.7 billion merger of Italy’s Sorin and Cyberonics in October 2015, said last September that it was putting the CRM business on the auction block. The business, which currently employs 900 individuals, pulled in sales of $249 million in 2016.