Date: Dec 02, 2013 Author: Joe Ross Source: NJbiz.com (
click here to go to the source)
HeartWare International acquires CircuLite Inc. for $30M
Teaneck-based cardiovascular device maker CircuLite Inc. has been acquired by Mass.-based HeartWare International for $30 million.
According to the announcement, HeartWare has acquired all of the issued and outstanding equity interests of CircuLite for consideration of $30 million, consisting of approximately $18 million in HeartWare common stock and cash of approximately $12 million to settle CircuLite's debt and transaction expenses, plus certain contingent success payments due upon satisfaction of regulatory and commercial milestones not to exceed $320 million in the aggregate over a ten-year period.