MDBR Staff Writer Published 21 November 2017
MicroPort Scientific has agreed to acquire UK-based LivaNova’s cardiac rhythm management (CRM) business franchise for around $190m.
LivaNova’s CRM business franchise is engaged in the development, manufacturing and marketing of products for the diagnosis, treatment and management of heart rhythm disorders and heart failures.
The CRM business produces products such as high-voltage defibrillators, cardiac resynchronization therapy devices and low-voltage pacemakers.
With around 900 employees, the CRM business carries out operations in Clamart of France, Saluggia of Italy and Santo Domingo of Dominican Republic.
In 2014, LivaNova and MicroPort formed a Chinese joint venture (JV) MicroPort Sorin CRM (Shanghai) to sell CRM devices such as implantable pacemakers, defibrillators and cardiac resynchronization devices in China.
In September this year, the JV secured approval from the China Food and Drug Administration for the Rega pacemaker family.
Subject to regulatory approvals, the deal is expected to complete in the second quarter of 2018.
MicroPort chairman and CEO Dr Zhaohua Chang said: “The CRM Business Franchise is a global business and strong regional player with attractive assets, a robust pipeline and growth potential.”
LivaNova CEO Damien McDonald said: “The sale will enable us to focus on LivaNova’s areas of strength and market leadership in our Cardiac Surgery and Neuromodulation businesses.”
MicroPort operates various business segments, including cardiovascular, orthopedic, endovascular, neurovascular, electrophysiology, surgical management, diabetes care and endocrinal management.
LivaNova operates three business franchises, including cardiac surgery, neuromodulation and cardiac rhythm management.
Image: MicroPort Scientific to acquire LivaNova’s CRM business franchise. Photo: courtesy of adamr / FreeDigitalPhotos.net.