MicroPort® Announces Shareholder Approval for the Acquisition of the Cardiac Rhythm Management Business from LivaNova
London and Shanghai – On April 19, 2018, MicroPort Scientific Corporation (HKSE: 00853) ("MicroPort®") announced that the transaction to acquire the Cardiac Rhythm Management business (the "CRM Business") from LivaNova PLC (NASDAQ:LIVN) ("LivaNova") has been approved by MicroPort® Shareholders at the Extraordinary General Meeting of MicroPort® held on April 19, 2018.
It was announced that the stock and asset purchase agreement has been entered into on March 8, 2018, pursuant to which, subject to certain closing conditions, LivaNova has agreed to sell, the CRM Business for an initial consideration of US$190 million, subject to working capital and other customary adjustments.
The CRM Business Franchise develops, manufactures and markets products for the diagnosis, treatment and management of heart rhythm disorders and heart failures, with more than one million patients implanted globally over nearly four decades. CRM products include high-voltage defibrillators, cardiac resynchronization therapy devices and low-voltage pacemakers. The CRM Business Franchise generated approximately $246 million in net sales in fiscal year 2017 and has approximately 900 employees with operations chiefly in Clamart, France; Saluggia, Italy; and Santo Domingo, Dominican Republic.
About LivaNova
LivaNova PLC is a global medical technology company built on nearly five decades of experience and a relentless commitment to improve the lives of patients around the world. LivaNova's advanced technologies and breakthrough treatments provide meaningful solutions for the benefit of patients, healthcare professionals and healthcare systems. Headquartered in London and with a presence in more than 100 countries worldwide, the company employs more than 4,500 employees. LivaNova operates as three business franchises: Cardiac Surgery, Neuromodulation and Cardiac Rhythm Management, with operating headquarters in Mirandola (Italy), Houston (U.S.A.) and Clamart (France), respectively.
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