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MicroPort® Announces Shareholder Approval for the Acquisition of the Cardiac Rhythm Management Business from LivaNova

[2018-04-19] 

London and Shanghai – On April 19, 2018, MicroPort Scientific Corporation (HKSE: 00853) ("MicroPort®") announced that the transaction to acquire the Cardiac Rhythm Management business (the "CRM Business") from LivaNova PLC (NASDAQ:LIVN) ("LivaNova") has been approved by MicroPort® Shareholders at the Extraordinary General Meeting of MicroPort® held on April 19, 2018.
 
It was announced that the stock and asset purchase agreement has been entered into on March 8, 2018, pursuant to which, subject to certain closing conditions, LivaNova has agreed to sell, the CRM Business for an initial consideration of US$190 million, subject to working capital and other customary adjustments.
 
The CRM Business Franchise develops, manufactures and markets products for the diagnosis, treatment and management of heart rhythm disorders and heart failures, with more than one million patients implanted globally over nearly four decades. CRM products include high-voltage defibrillators, cardiac resynchronization therapy devices and low-voltage pacemakers. The CRM Business Franchise generated approximately $246 million in net sales in fiscal year 2017 and has approximately 900 employees with operations chiefly in Clamart, France; Saluggia, Italy; and Santo Domingo, Dominican Republic.

 

About LivaNova
 
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 and with a presence in more than 100 countries worldwide, the company employs more than 4,500 employees. 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 refer to: www.livanova.com

About MicroPort®

MicroPort Scientific Corporation (the "Group") is a leading medical device company with business focusing on innovating, manufacturing, and marketing high-quality and high-end medical devices globally. With a diverse portfolio of products now being used at an average rate of one for every 12 seconds in thousands of major hospitals around the world, the Group maintains world-wide operations in a broad range of business segments including Cardiovascular, Orthopedic, Electrophysiological, Endovascular, Neurovascular, Surgical, Diabetes Care and Endocrinal Management, and others. MicroPort® is dedicated to becoming a patient oriented global enterprise improve and reshape patient lives through application of innovative science and technology.

For more information, please refer to: www.microport.com

Forward-Looking Statements

Some information contained on this website contains forward-looking statements. These forward-looking statements include, without limitation, those regarding our future financial position, our strategy, plans, objectives, goals and targets, future developments in the markets where we participate or are seeking to participate, and any statements preceded by, followed by or that include the words "believe", "intend", "expect", anticipate", "project", "estimate", "predict", "is confident", "has confidence" and similar expressions are also intended to identify forward-looking statements. Such statements are based upon the current beliefs and expectations of MicroPort®'s management and are subject to significant risks and uncertainties. MicroPort Scientific Corporation undertakes no obligation to update any of the statements. These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties and other factors that could cause actual future results to differ materially from current expectations include, but are not limited to, general industry and economic conditions, PRC governmental policies and regulations relating to the medical device manufacturing industry, competition in the medical device manufacturing industry, our ability to develop new products and stay abreast of market trends and technological advances, our goals and strategies, our ability to execute strategic acquisitions of, investments in or alliances with other companies and businesses, fluctuations in general economic and business conditions in China.

This document is for information purposes only and does not constitute or form part of any offer or invitation to sell or the solicitation of an offer or invitation to purchase or subscribe for any securities of MicroPort Scientific Corporation, and no part of it shall form the basis of, or be relied upon in connection with, any agreement, arrangement, contract, commitment or investment decision in relation thereto whatsoever.

All rights reserved.
Copyright © 2018 MicroPort Scientific Corporation

CONTACT:
Amanda Zhang
Corporate Culture & Public Relations Director
Shanghai MicroPort Medical (Group) Co., Ltd. (HQ)
Tel: (86)(21) 38954600-6989
Email: spokesperson@microport.com

 

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