UK-based LivaNova has entered an agreement to purchase US-based TandemLife for a total consideration of up to $250m, including $200m upfront and $50m contingent considerations for regulatory milestones.
Founded in 1996, TandemLife offers four temporary support solutions that can be deployed in hospitals for acute cardiac, pulmonary, or cardiopulmonary care.
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These devices include the TandemLife system for cardiopulmonary care, TandemLung for pulmonary support, ProtekDuo for right heart support, and TandemHeart to support the left side of the heart.
Made using a common pump and controller, the advanced support solutions feature ExtraCorporeal Life Support (ECLS) and Percutaneous Mechanical Circulatory Support (pMCS).
LivaNova expects that TandemLife’s solutions will complement and boost its portfolio of cardiac surgery products, as well as strengthen its capabilities for temporary cardiopulmonary assistance.
LivaNova CEO Damien McDonald said: “We are pleased to enhance our cardiac surgery product offerings with TandemLife’s complete portfolio of advanced cardiopulmonary support products.
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By GlobalData“Use of ECLS and pMCS systems is on the rise, and technological advancements have made products easier to use and more efficacious, leading to growth in the number of hospitals capable of performing these advanced procedures.”
LivaNova plans to bolster the US footprint and expand into other international markets through its customer base and global infrastructure.
Subject to regulatory approvals and additional customary closing conditions, the acquisition is expected to be closed in the first half of this year.
