AtriCure Inc. completed its acquisition of privately held SentreHEART Inc. for an up-front payment of about $40 million in a cash and stock deal.
Redwood City, Calif.-based SentreHEART develops percutaneous left atrial appendage management solutions for certain patients with an irregular heartbeat.
Mason, Ohio-based AtriCure, which develops technologies to treat atrial fibrillation, will pay an additional $140 million in milestone related payments for SentreHEART's Lariat suture delivery device and another $120 million for the therapy involving SentreHEART devices.
Piper Jaffray & Co. was the exclusive financial adviser, and Pepper Hamilton LLP served as legal counsel to ArtiCure. Guggenheim Securities LLC and Goodwin Procter LLP were SentreHEART's exclusive financial adviser and legal counsel, respectively.