Acutus Medical (NSDQ:AFIB) today announced that it has entered a definitive agreement to sell its left-heart access portfolio to Medtronic (NYSE:MDT) for $50 million.
Medtronic will make an upfront cash payment to Princeton, N.J.–based Acutus Medical of $50 million upon the initial closing of the transaction, which is subject to the satisfaction of customary closing conditions including expiration or early termination of all applicable waiting periods under antitrust laws. The deal is also subject to Acutus’ debt refinancing and contingent consideration payments over time based on the achievement of certain milestones and future sales, according to the company.
