Acutus Medical sale of its left-heart access portfolio products
Davis Polk is advising Acutus Medical, Inc. on the sale of its left-heart access portfolio products for an upfront payment of $50 million, as well as contingent consideration payments over time based on the achievement of certain milestones for up to $37 million and certain other consideration, as well as the negotiation of a $30 million senior secured term loan, the proceeds of which will be used to refinance its existing term loan. The transactions are subject to customary closing conditions.
Acutus is an arrhythmia management company focused on improving the way cardiac arrhythmias are diagnosed and treated.
The Davis Polk corporate team includes partner Alan F. Denenberg, counsel Jason Bassetti and associate Karen Yang. Partner David R. Bauer and associate David A. Frey are providing intellectual property advice. Partner Corey M. Goodman and associate William Liang are providing tax advice. The finance team includes partner David Hahn and associate Matthew J. Wiener. Counsel Mary K. Marks is providing antitrust and competition advice. Members of the Davis Polk team are based in the Northern California, New York, Washington DC and London offices.