A Global Leader of Medical Technology LiveNova Purchases ImThera Medical, Inc.

02:32 12/05/2017

A top-leading medical technology company, LiveNova PLC LIVN , announced it has entered an agreement to purchase ImThera Medical, Inc. ImThera is a company focused solely on neurostimulation for the treatment of obstructive sleep apnea (OSA). They design and manufacture an implantable product that arouses multiple tongue muscles through the hypoglossal nerve, which opens the airway while a patient is sleeping.

Patients with obstructive sleep apnea (OSA) experience diminished daytime functionality, including severe comorbidities such as heart failure and stroke. This device by ImThera is used for patients with moderate to severe OSA who refuse to use continuous positive airway pressure (CPAP) therapy. ImThera’s device is intended to lessen or remove sleep apnea.

LiveNova’s CEO, Damien McDonald said, “The ImThera device is highly aligned with our existing Neuromodulation business, and we are extremely excited about the opportunity to optimize the technology and fold it into our universal platform. The OSA market is large and growing, with many unmet needs.”

LiveNova LIVN  has consistently invested in ImThera Medical since 2011 and this agreement allows them to purchase the remaining interest of ImThera for $225 million with a $78 million signing fee.

ImThera’s Founder and CEO, Marcelo Lima said, “ImThera Medical shares LiveNova’s mission to help patients live longer, better lives. This acquisition will benefit healthcare providers, shareholders and most of all, the patients who are at the heart of everything we do.”

LiveNova LIVN  has been running as a leading medical technology company for over fifty years and employs more than 4,500 employees around the nation. Shares of LiveNova saw a slight increase in price in today’s trading.

This article has been provided by a Chasing Markets contributor. All content submitted by this author represent their personal opinions, and should be considered as such for entertainment purpose only. All opinions expressed are those of the writer, and may not necessarily represent fact, opinions, or bias of Chasing Markets.
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