AtriCure Acquires nContact Surgical for $149,000,000
- Feed Type
- Link
http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=bde2f82a-ae2e-46db-be2f-40014b01a11b - Date
10/6/2015 - Company Name
nContact Surgical - Mailing Address
1001 Aviation Pkwy. Morrisville, NC 27560 USA - Company Description
nContact is a medical device company founded in 2005 with a mission to develop devices for the endoscopic treatment of arrhythmias, including atrial fibrillation (AF). - Website
http://www.ncontactsurgical.com - Transaction Type
M&A - Transaction Amount
$149,000,000 - Transaction Round
- Proceeds Purposes
- M&A Terms
The transaction consideration consists of an upfront payment of approximately 3.7 million shares of AtriCure common stock, valued at $24.60 per share, and approximately $8 million in cash, subject to closing adjustments. The transaction also includes up to $50 million in additional contingent consideration based on completion of enrollment of the CONVERGE IDE trial and PMA approval. Additionally, nContact shareholders are entitled to additional sales-based contingent consideration on revenue in excess of an annual growth rate of greater than 25% through 2019. All contingent consideration can be paid in either cash or AtriCure common stock, or a combination of both.
