Industry Trend Analysis - LivaNova Advances Neuromodulation Business With ImThera Acquisition - 08 JAN 2018


BMI View: The acquisition of ImThera Medical will enable LivaNova to enter the obstructive sleep apn oea market , enhancing its Neuromodulation portfolio and allowing it to better compete in the wider neuromodulation market. The acquisition signifies the company's focus on advancing its remaining two businesses, following the divesture of its Cardiac Rhythm Management business in November 2017.

LivaNova has entered into an agreement to acquire the remaining outstanding interests in US-based ImThera Medical, a privately held company focused on neurostimulation for the treatment of obstructive sleep apnoea (OSA). LivaNova has invested in ImThera since 2011, and has agreed to pay up to approximately USD225mn to acquire the remaining outstanding interests of the company. Up-front costs are approximately USD78mn, with the balance paid on a schedule driven by regulatory and sales milestones. The deal is expected to close in early 2018, subject to approvals and other customary closing conditions.

Need For Effective Alternative To CPAP Therapy

Neuromodulation Performance Now Key To Revenue Generation
Revenue Growth By Business Segment (%), Q316-Q317
Source: LivaNova, BMI

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