LivaNova Enters into Definitive Agreement to Divest Its Cardiac Rhythm Management Business Franchise to MicroPort Scientific Corporation
LivaNova PLC (NASDAQ:LIVN) (“LivaNova”) today announced that it has entered into a definitive Stock and Asset Purchase Agreement (“Purchase Agreement”) to divest its Cardiac Rhythm Management business franchise to MicroPort Scientific Corporation (“MicroPort”). LivaNova and MicroPort executed and delivered the Purchase Agreement, pursuant to the terms of a binding Letter of Intent, previously announced on November 20, 2017.
Today’s announcement follows the successful completion of works council information and consultation requirements in France. The proposed transaction is subject to customary regulatory and other closing conditions. The transaction is expected to close in the second quarter of 2018.
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, LivaNova has a presence in more than 100 countries worldwide. The Company currently employs more than 4,500 employees, inclusive of approximately 900 employed by our CRM business franchise. 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.
For more information, please visit www.livanova.com .
Safe Harbor Statement
This press release contains forward-looking statements within the meaning of Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended. Forward-looking statements are not historical facts but are based on certain assumptions of management and describe LivaNova’s future plans, strategies and expectations. Forward-looking statements can generally be identified by the use of forward-looking terminology, including, but not limited to, "may," “could,” “seek,” “guidance,” “predict,” “potential,” “likely,” "believe," "will," "expect," "anticipate," "estimate," "plan," "intend," "forecast," or variations of these terms and similar expressions, or the negative of these terms or similar expressions. Forward-looking statements contained in this press release are based on information presently available to LivaNova and assumptions that LivaNova believes to be reasonable, but are inherently uncertain. As a result, LivaNova’s actual results, performance or achievements may differ materially from those expressed or implied by these forward-looking statements, which are not guarantees of future performance or actions that may be taken by LivaNova and involve known and unknown risks, uncertainties and other factors that are, in some cases, beyond LivaNova’s control. Investors are cautioned that all such statements involve risks and uncertainties, including without limitation, statements concerning the intended sale of the CRM business franchise or the likelihood or timing of the contemplated transaction. Important factors that may cause actual results to differ include, but are not limited to: (i) the ability of LivaNova to successfully complete the sale of the CRM business franchise; (ii) failure to obtain applicable regulatory or other approvals in a timely manner or otherwise; (iii) failure to satisfy other conditions to the proposed transaction; (iv) the length of time necessary to consummate the proposed transaction, which may be longer than anticipated for various reasons; and (v) unexpected costs or liabilities that may arise from the sale of the CRM business franchise. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties that affect LivaNova’s business, including those described in the “Risk Factors” section of LivaNova’s Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K and other documents filed from time to time with the United States Securities and Exchange Commission. LivaNova does not give any assurance (1) that LivaNova will achieve its expectations, or (2) concerning any result or the timing thereof, in each case, with respect to any regulatory action, administrative proceedings, government investigations, litigation, warning letters, consent decree, cost reductions, business strategies, earnings or revenue trends or future financial results.
All information in this press release is as of the date of its release. LivaNova does not undertake or assume any obligation to update publicly any of the forward-looking statements in this press release to reflect actual results, new information or future events, changes in assumptions or changes in other factors affecting forward-looking statements, except to the extent required by applicable law. If we update one or more forward-looking statements, no inference should be drawn that we will make additional updates with respect to those or other forward-looking statements. We caution you not to place undue reliance on any forward-looking statements, which are made only as of the date of this press release.
LivaNova PLC Investor Relations and Media
Karen King, +1 (281) 228-7262
Vice President, Investor Relations & Corporate Communications
Deanna Wilke, +1 (281) 727-2764
Corporate External Communications Manager
Media Contact (General)
Andy Brimmer / Sharon Stern / Ed Trissel
Joele Frank, Wilkinson Brimmer Katcher
+1 (212) 355-4449
Media Contact (France)
+33 6 16 58 31 10
Media Contact (Italy)
Luigi Norsa & Associati S.r.L.
+39 335 710 47 51
Om Business Wire
(c) 2018 Business Wire, Inc., All rights reserved.
Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.
Følg saker fra Business Wire
Registrer deg med din epostadresse under for å få de nyeste sakene fra Business Wire på epost fortløpende. Du kan melde deg av når som helst.
Siste saker fra Business Wire
Prima Solutions and Effisoft Announce Their Merger to Bolster Global Leadership in Providing Insurance Solutions17.12.2018 09:00 | Pressemelding
As part of their continuing growth strategies, Prima Solutions and Effisoft announce their merger to create a global InsureTech company. This merger between Effisoft, the leading vendor of reinsurance and regulatory software solutions for insurance and reinsurance companies across the globe, and Prima Solutions, one of Europe’s leading software provider for Life, Health, and P&C insurance companies, will produce one of the largest and most comprehensive players in Europe, North America, and the Asia-Pacific region with cloud-based solutions covering all areas of the insurance market. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20181217005249/en/ This merger, concluded on December 13, will enable both groups to accelerate their development in the P&C, health and personal protection insurance markets. This merger is part of an ambitious and coherent growth strategy: it completes Prima Solutions' and Effisoft's existing produc
Algorand Appoints Pablo Azar as Chief Economist17.12.2018 09:00 | Pressemelding
Algorand, a foundational blockchain and cryptocurrency company, announced today that it has named Pablo Azar as Chief Economist. Given Algorand's focus on creating sustainable value in a decentralized economy, Mr. Azar will be responsible for guiding Algorand’s economic policies. On the heels of announcing Steve Kokinos and W. Sean Ford as CEO and COO, respectively, Mr. Azar’s appointment as Chief Economist is another advancement for Algorand as it continues to develop its executive team. With a double Ph.D. from MIT, Mr. Azar will bring his unique expertise regarding the application of computer science and cryptography toward the creation of better market mechanisms. Further, he will be responsible for expanding the visibility of Algorand’s economic policy and enhancing the tools necessary for developers to build on the Algorand platform. “As momentum around tokenization increases, so does the need for sound economic management,” said Steve Kokinos, CEO at Algorand. “With his deep bac
Arthur D. Little Report Outlines €200 Billion Digital Transformation Opportunity for Telecoms Sector17.12.2018 08:30 | Pressemelding
Arthur D. Little (ADL) today published a new research report highlighting the need for greater digitalization in the global telecoms industry. The TIME 2018 Flagship Report outlines the scale of the digital opportunity, with analysis estimating that a ‘digital dividend’ of over €200 billion free cash flow awaits telcos that can successfully transform. Industry executives surveyed for the report confirm the findings. 73% say that digital will add value to their businesses, with key benefits including greater agility, increased subscriber growth and cost savings. CAPEX spending on areas such as 5G infrastructure and the Internet of Things is expected to require a 7% CAGR increase from 2017-2022, outpacing forecast revenue growth. Consequently, failing to digitally transform risks commoditization and disintermediation, leaving telcos unable to invest sufficiently. As one senior executive put it bluntly, “Digitalization – there is no other choice if we want to survive.” The report highligh
Denodo Offers Data Virtualization Test Drive on Microsoft Azure17.12.2018 08:30 | Pressemelding
Denodo, the leader in data virtualization today announced the availability of a free Test Drive environment on Microsoft Azure. Following on the heels of its recently announced Test Drive on AWS, the newest Denodo Test Drive empowers users to quickly and easily create real-time data delivery without replication and explore the benefits of using the Denodo Platform on Azure. Denodo Test Drives are completely free of charge for demonstration, education and evaluation purposes and are available at: http://bit.ly/2AQddE3 Built on Azure, the Test Drive lets individuals discover, explore, prepare, and access data in a user-friendly interface for true self-service. The Denodo Test Drive solves some of the most pressing challenges faced by data scientists and data analysts by enabling them to integrate large volumes of data to support their agile BI, big data analytics and Web/cloud integration objectives. “Microsoft’s commitment to offer an ecosystem of cloud solutions makes it ideal for Deno
Arthur D. Little Global Automotive Study Outlines Importance of Car in Changing World of Mobility17.12.2018 08:30 | Pressemelding
Arthur D. Little (ADL) today released its worldwide automotive market report. Key findings are that desire for car ownership remains strong, especially amongst the young, and that drivers are considering a dramatic switch to electric and hybrid vehicles (EVs). This will impact manufacturer and supplier engine strategies and push for faster development of EV ecosystems, such as charging solutions. Drivers are now much more willing to embrace alternative drivetrains. 58% would accept paying more for hybrids, and 50% for EVs. While the majority have petrol or diesel-engined vehicles, this could change rapidly. Of those planning to replace their car, 48% said they’d consider an EV (BEV, hybrid or plugin hybrid), 36% a petrol-engined vehicle and 12% diesel. Klaus Schmitz, Partner with Arthur D. Little explains: “Extending our groundbreaking 2015 automotive study shows enormous changes. While attachment to car ownership remains high, meaning the overall automotive market will remain stable,
Montagu Evans Chooses MobileIron Cloud to Keep Client Data Safe on Mobile Devices17.12.2018 08:00 | Pressemelding
MobileIron (NASDAQ:MOBL), the secure foundation for modern work, today announced that Montagu Evans has selected MobileIron unified endpoint management (UEM) cloud solution, including MobileIron Access and MobileIron Threat Defense. For nearly a century, Montagu Evans, a partnership and one of UK’s largest owner-managed surveying firms, has helped its clients shape some of UK’s largest commercial, residential and mixed-use property development projects. With increasingly sensitive client work, more employees on job sites using mobile devices, and the newly enforced GDPR, it was imperative for Montagu Evans to use a best-in-class UEM solution to securely manage all data without compromising productivity. Safety from Mobile Threats Since Montagu Evans’ employees often need to connect through unsecured networks, such as public Wi-Fi networks, the company needed to ensure that highly sensitive customer information could not be intercepted or compromised. To solve this problem, Montagu Evan