ABIOMED Executes Agreement to Acquire Impella CardioSystems

ABIOMED, a manufacturer of products for circulatory care and support, announced that it has entered into a definitive agreement to acquire Impella CardioSystems, a privately held manufacturer of small, minimally invasive, high performance micro blood pumps.

Under the terms of the agreement ABIOMED will acquire Impella for approximately 4.04 million shares of ABIOMED common stock and approximately $1.8 million in cash. In addition, ABIOMED may make additional contingent payments to Impella shareholders based on stock price performance, unit sales and FDA approval milestones. The contingent payments range on a scale from zero dollars to approximately $29 million. The transaction is subject to customary closing conditions.

Impella's blood pumps include integrated motors and sensors for use in interventional cardiology and heart surgery. These circulatory assist devices are used by cardiologists in the catheterization lab and are inserted percutaneously into patients, similar to a standard balloon pump procedure, in order to help restore blood flow. Impella has CE marks for each of its devices and currently markets them throughout Europe.