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LivaNova to acquire Pittsburgh-based medical device company for $250M

LivaNova PLC agreed to acquire Pittsburgh-based privately held medical device company TandemLife for $250 million.

TandemLife is focused on developing advanced cardiopulmonary temporary support solutions. LivaNova said TandemLife's systems are complementary to its offerings in cardiac surgery.

London-based LivaNova will pay a total of $200 million upfront for TandemLife, with up to $50 million in contingent considerations based on regulatory milestones.

The deal is expected to close in the first half of 2018, subject to approvals and other customary closing conditions, and is expected to be modestly accretive in 2018.