LivaNova Agrees to Acquire TandemLife
February 14, 2018—LivaNova PLC announced it has entered into an agreement to acquire TandemLife. TandemLife offers four product systems built around a common pump and controller that include extracorporeal life support (ECLS) and percutaneous mechanical circulatory support (pMCS) systems.
According to LivaNova, the acquisition of TandemLife’s complete portfolio of advanced cardiopulmonary support products will help to enhance the company’s cardiac surgery offerings.
“Use of ECLS and pMCS systems is on the rise, and technologic advancements have made products easier to use and more efficacious, leading to growth in the number of hospitals capable of performing these advanced procedures,” said Damien McDonald, LivaNova’s Chief Executive Officer.
LivaNova has agreed to pay up to $250 million for TandemLife, with upfront costs totaling about $200 million and up to an additional $50 million in contingent considerations based on regulatory milestones, stated LivaNova in their announcement.
The acquisition is expected to close in the first half of 2018, subject to approvals and other customary closing conditions.