Shanghai's MicroPort to pay USD190 mn for LivaNova's cardiac business
26-Nov-17, LivaNova
The UK's LivaNova and MicroPort of China have entered into a binding Letter of Intent for the sale of LivaNova’s Cardiac Rhythm Management (CRM) business to MicroPort for USD190 million in cash.
%20Cardiac%20Rhythm%20News.jpg "Shanghai's MicroPort to pay USD190 mn for LivaNovas cardiac business (c) Cardiac Rhythm News")
Image: LivaNova; MicroPort
The CRM business generated approximately USD249 mn net sales in 2016 and has 900 employees with operations in: Clamart, France; Saluggia, Italy; and Santo Domingo, Dominican Republic.
In 2014, LivaNova (formerly Sorin Group) and MicroPort founded a China-based joint venture to market CRM devices, including implantable pacemakers, defibrillators and cardiac resynchronization devices.
In Sep-17, the China FDA approved its Rega pacemaker family, the smallest sized pacemakers available on the Chinese market.