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HeartWare buys Israeli co Valtech Cardio for $860m

The acquisition of the Or Yehuda valve repair device company includes shares and milestone payments.

HeartWare International Inc. announced today that it has entered into a definitive agreement to acquire Valtech Cardio Inc. in a share and milestone payments deal that could reach $860 million. Valtech is a privately held company that specializes in the development of innovative, non-invasive surgical and transcatheter valve repair and replacement devices for the treatment of the most prevalent heart valve diseases mitral valve regurgitation (MR) and tricuspid valve regurgitation (TR).

The Israeli company was founded in 2006 and has 50 employees, according to IVC. The company was founded by CEO Amir Gross, Yossi Gross, and a target=new href=http://www.peregrinevc.com/>Peregrine Ventures headed by Eyal Lifshitz and Boaz Lifshitz. Based in Or Yehuda near Tel Aviv, the company has raised $70 million to date.

Source: Globes

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