Medtronic plc completed the acquisition of Left-heart Access Portfolio from Acutus Medical, Inc..
June 29, 2022
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Medtronic plc (NYSE:MDT) entered into an agreement to acquire Left-heart Access Portfolio from Acutus Medical, Inc. (NasdaqGS:AFIB) for $87 million on April 26, 2022. Under the terms of the agreement, Medtronic will make an upfront cash payment to Acutus of $50 million upon the initial closing of the transaction, as well as contingent consideration payments over time based on the achievement of certain milestones and future sales. In a related transaction, Deerfield Management Company announced a commitment letter to refinance Acutus Medical's existing debt with a new longer-term credit facility. The transaction is subject to the satisfaction of customary closing conditions, including expiration or early termination of all applicable waiting periods (and any extensions thereof) under applicable antitrust laws, and the closing of the Company's debt refinancing. Alan F. Denenberg of Davis, Polk, & Wardwell served as legal advisors to the Acutus Medical. Perella Weinberg Partners (NasdaqGS:PWP) acted as a financial advisor to Acutus Medical, Inc. and Katten Muchin Rosenman LLP acted as a legal advisor to Acutus Medical, Inc.
Medtronic plc (NYSE:MDT) completed the acquisition of Left-heart Access Portfolio from Acutus Medical, Inc. (NasdaqGS:AFIB) on June 30, 2022.
Acutus Medical, Inc. is focused on the production of left-heart access products under its distribution agreement with Medtronic, Inc. (Medtronic). The Company is solely focused on supporting the manufacturing and distribution of products to Medtronic. It manufactures transseptal crossing devices and associated accessories, such as integrated transseptal dilators and needles, fixed-curve or steerable introducers, and steerable sheaths (Products). These Products are used to access the left side, or left atrium, of the cardiac anatomy and are used in a range of medical applications, including in electrophysiology and structural heart procedures. The technology supports physicians during a critical component of an ablation or structural heart procedure. The transseptal crossing devices that it manufactures for Medtronic include versions that are length-, diameter- and tip-matched and designed to lock into the hub of sheaths used in many left-heart procedures.
ACUTUS MEDICAL, INC. 
