The High Court of England and Wales today approved the $2.7 billion merger of medical giants Cyberonics (NSDQ:CYBX) and Sorin Group (BIT:SRN), now known as LivaNova. The U.K.-approved merger will go into effect October 19, according to the companies. With the approved transaction, each Sorin share will be converted to 0.0472 ordinary shares of $1.52 ( […]
LivaNova
Ex-Medtronic strategy veep Oesterle joins VC shop New Enterprise Associates | Personnel Moves
Venture capital firm New Enterprise Associates said today it picked up ex-Medtronic (NYSE:MDT) executive veep Dr. Stephen Oesterle as a venture partner for the firm. Prior to being an executive veep for the medical giant, Oesterle served as senior veep of medicine and technology, and served as a member of the executive committee for 14 years, […]
Sorin’s Q2 earnings plunge on Cyberonics merger costs
Sorin Group (BIT:SRN) said yesterday that its 2nd-quarter profits plunged nearly 80% , largely due to costs from its pending, $2.7 billion merger with Cyberonics (NSDQ:CYBX). Milan-based Sorin said profits were €2.1 million ($2.3 million), down -79.0% from €10.0 million ($11.1 million) during Q2 2014. The merger with Cyberonics into a new entity called LivaNova cost €16.6 million ($18.4 […]
Sorin and Cyberonics rebrand as LivaNova
Sorin Group (BIT:SRN) and Cyberonics (NSDQ:CYBX) said today that LivaNova will be the new name for the merged companies. The companies said the name was chosen through a combination of market research and employee participation from both Sorin and Cyberonics. “LivaNova combines a derivation of the English word life with the Latin word for new, embodying our core […]