HeartWare Steps Away From Proposed Acquisition of Valtech Cardio

HeartWare International has terminated its proposed acquisition of Valtech Cardio.

“While we continue to believe Valtech's portfolio of mitral and tricuspid interventional tools holds tremendous promise, HeartWare finds itself in a different set of circumstances than when we first entered into the agreement,” says Doug Godshall, president and chief executive officer of HeartWare.

Under the agreement, HeartWare will make a $30 million loan to Valtech in the form of a convertible promissory note. — Jonathon Shacat