trending Market Intelligence /marketintelligence/en/news-insights/trending/1Zkx95ZpSRHolkhwJ4GQDQ2 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

In This List

AtriCure to acquire privately held SentreHEART

Gauging Supply Chain Risk In Volatile Times

S&P Global Market Intelligence

Cannabis: Hashing Out a Budding Industry


IFRS 9 Impairment How It Impacts Your Corporation And How We Can Help

The Market Intelligence Platform

AtriCure to acquire privately held SentreHEART

AtriCure Inc. signed a definitive agreement to acquire privately held SentreHEART Inc. for an up-front payment of about $40 million in cash and stock.

Redwood City, Calif.-based SentreHEART develops percutaneous left atrial appendage management solutions for certain patients with an irregular heartbeat.

The transaction also covers additional cash and stock payments of $140 million based on milestones related to the aMAZE trial for SentreHEART's Lariat suture delivery device, and another $120 million related to a reimbursement milestone for the therapy involving SentreHEART devices.

SentreHEART is evaluating Lariat and pulmonary vein isolation, or PVI, catheter ablation compared to treatment with PVI alone for persistent and long-standing persistent atrial fibrillation, an irregular heartbeat that can lead to blood clots, stroke, heart failure and other heart-related complications.

Ohio-based AtriCure, which develops technologies to treat atrial fibrillation, said the SentreHEART acquisition complements its product portfolio.

The company expects to close the acquisition in the next few days.

Piper Jaffray & Co. is acting as exclusive financial adviser, and Pepper Hamilton LLP is serving as legal counsel to AtriCure. Guggenheim Securities LLC is acting as exclusive financial adviser, and Goodwin Procter LLP is serving as legal counsel to SentreHEART in connection with the transaction.

AtriCure noted that it expects to book a loss in its adjusted EBITDA between $7 million and $9 million and an adjusted per-share loss between $1.07 and $1.14 in 2019 due to integration and operating costs resulting from the transaction.

The company's total revenue for 2019, including minimal contribution from SentreHEART, is expected to range between $224.5 million and $228.5 million.

For 2020, AtriCure expects to report an adjusted EBITDA loss of less than $10 million as investments shift from completing the aMAZE study to preparing for approval from the U.S. Food and Drug Administration.