AtriCure to Acquire SentreHEART, for Up To $300M
Summary
Of the contingent consideration, $140m is based on milestones related to the aMAZE™ IDE clinical trial, including PMA approval, and $120m is based on a milestone related to reimbursement for the therapy involving SentreHEART devices. Founded in 2005, SentreHEART is a medical device company which has developed innovative technology for remote delivery of suture for closure of anatomic structures including the LAA. The company is committed to clinical evidence development and is currently sponsoring the FDA-approved prospective, multi-center, randomized controlled trial known as the aMAZE Trial evaluating the LARIAT Suture Delivery Device for LAA closure adjunctive to Pulmonary Vein Isolation (PVI) catheter ablation for the treatment of persistent and longstanding persistent Afib. Led by Michael Carrel, President and Chief Executive Officer, AtriCure provides electrophysiologists and cardiothoracic surgeons with innovative technologies for the treatment of Afib and related conditions. Revenue contribution from SentreHEART is expected to be nominal until after completion of the aMAZE Trial and PMA approval.