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LivaNova inks definitive deal to sell heart rhythm management unit to MicroPort

LivaNova PLC, a London-based medical device maker, entered into a definitive stock and asset purchase agreement to sell its cardiac rhythm management business franchise to MicroPort Scientific Corp.

In November 2017, the companies entered into a binding letter of intent for the proposed transaction.

MicroPort, a Shanghai-based healthcare equipment company, will acquire the franchise — which develops products that diagnose, treat and manage heart rhythm disorders and heart failures — for $190 million in cash.

The deal, which is subject to regulatory and other closing conditions, is anticipated to close in the second quarter.