Italian medical device maker Sorin Group (BIT:SRN) made a $5.4 million (€4.2 million) minority investment with option-to-buy in HighLife SAS, developer of transcatheter mitral valve replacement technology.
HighLife’s founders include Georg Börtlein, an early transcatheter valve repair pioneer who co-founded CoreValve, a transcatheter aortic valve implantation systems company that was later bought by medtech giant Medtronic (NYSE:MDT) for more than $1 billion.
Sorin’s investment, which includes an exclusive acquisition option, will fund ongoing product development and clinical testing, according to a press release.
"The HighLife investment is an important step forward in our long-term plan to build a significant new growth platform in percutaneous mitral valve therapies," Sorin CEO André-Michel Ballester said in prepared remarks. "This is consistent with Sorin’s Strategic Plan to accelerate top-line growth through investments in innovation."
The investment also complements Sorin’s recent $8 million contribution to heart access devices maker CardioSolutions, which is also developing mitral repair systems.
SRN shares were down 0.5% to $1.65 as of about 4 p.m. on the Italian market.
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