HeartWare Buys CircuLite In Deal That Could Reach $350M

Law360, New York (December 2, 2013, 6:01 PM EST) -- HeartWare International Inc. has purchased New Jersey-based CircuLite Inc. and its Synergy circulatory support system, which helps treat patients with early-stage heart failure, in a deal that could end up being worth $350 million, the companies said Sunday.

HeartWare said it has paid $12 million in cash to settle CircuLite's outstanding debt, in addition to paying $18 million in HeartWare common stock. The other potential $220 million is contingent upon possible regulatory milestone and revenue-based payments, according to HeartWare's statement.

The deal gives Massachusetts-based HeartWare control...
To view the full article, register now.