AtriCure Acquires nContact Surgical for $149,000,000

  • Feed Type
  • 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.

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