AtriCure (NASDAQ:ATRC) has agreed to acquire privately held SentreHEART, a developer of percutaneous left atrial appendage management solutions.
Under the terms of the deal, ATRC will pay $40M in upfront cash and stock, up to $140M in milestones related to the aMAZE IDE clinical trial for its LARIAT Suture Delivery Device and a $120M milestone based on the establishment of reimbursement of SentreHEART devices. Both will paid in cash and stock.
ARTC has updated its 2019 guidance. Revenue expectations are now $224.5M – 228.5M (minimal contribution from SentreHEART) from $224.0M – 228.0M. Non-GAAP EBITDA loss: ($7M – 9M) exclusive of acquisition costs from ($2M – 0).
Management will host a conference call this morning at 8:30 am ET to discuss the transaction.
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.