HeartWare to Acquire Valtech Cardio

HeartWare International, Inc., a developer of miniaturized circulatory support technologies to treat heart failure, has reached an agreement to acquire Israel-based Valtech Cardio.

Under the agreement, Valtech shareholders will receive an up-front consideration of 4.4 million shares of HeartWare common stock, along with 800,000 shares of common stock, contingent upon CE Mark approval for Cardioband, and 700,000 shares of common stock upon the first implants of either Cardioband or the company’s CardioValve.

The transaction with Valtech, which specializes in the development of surgical and transcatheter valve repair and replacement devices for the treatment mitral valve regurgitation and tricuspid valve regurgitation, will broaden HeartWare’s existing treatment portfolio.

About 4.2 million patients in the U.S. suffer from mitral valve disease along with 1.6 million suffer from by tricuspid valve disease. — Michael Cipriano