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HBM Healthcare Investments portfolio company, TandemLife, to be acquired for up to USD 250 mn

TandemLife (also known as CardiacAssist, Inc.), a privately held company in the portfolio of HBM Healthcare Investments, entered into an acquisition agreement for up to USD 250 million yesterday. The agreement with LivaNova PLC (NASDAQ:LIVN) consists of upfront payments of USD 200 million and up to USD 50 million in contingent considerations based on regulatory milestones. The deal is projected to close in early to mid-2018, subject to approvals and other customary closing conditions.