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HeartWare buys CircuLite

Executive Summary

HeartWare International Inc. (HWI; cardiovascular devices) acquired closely held circulatory support systems developer CircuLite Inc. for $30mm, of which $18mm was paid in common shares (230k shares were issued) and $12mm in cash to settle debt and transaction expenses. HWI also agreed to make earn-out payments of up to $320mm based on meeting regulatory and commercialization milestones involving Synergy over the next ten years.
Deal Industry
  • Medical Devices
  • Medical Devices
    • Implantable Devices
    • Surgical Equipment & Devices
      • Minimally or Less Invasive
Deal Status
  • Final
Deal Type
  • Acquisition
    • Full Acquisition
    • Includes Contract
    • Includes Earnout
    • Payment Includes Cash
    • Payment Includes Stock

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