Shareholders Compel HeartWare To Drop Valtech Deal, Stay Focused On VADS
This article was originally published in Clinica
HeartWare International abandoned its bid to get into the valve business with the acquisition of Valtech Cardio following months of pressure from an activist shareholder to abandon the deal.
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The Cardioband system is a transcatheter annuloplasty device for repair of mitral and tricuspid valves that should be a natural fit with Edwards transcatheter mitral valve development program. Israel-based Valtech had a deal in September 2015 to be acquired by HeartWare for $900m, but that deal fell through after HeartWare investors protested.
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