Gowling WLG advises Gyrus Capital on agreement to acquire LivaNova heart valve business

09 December 2020

Gowling WLG has advised Gyrus Capital (Gyrus), an investment firm dedicated to investments in the healthcare and sustainability sectors, on its agreement to acquire the LivaNova heart valve (HV) business, part of market-leading medical technology and innovation company LivaNova PLC.

The LivaNova HV business is a comprehensive portfolio of products, including Perceval, a unique sutureless aortic valve, along with tissue and mechanical valves to fit the differing needs of cardiac surgeons and patients worldwide. The business employs approximately 900 employees worldwide and has major operations in Saluggia, Italy and Vancouver, Canada.

Gyrus intends to focus management attention and investment on the HV business to position it to become a leading player in the surgical heart valve market globally, translating into even greater opportunities for employees, customers and patients.

The transaction is expected to be completed in the first half of 2021.

Italy-based law firm Nctm, a best friend firm of Gowling WLG, led on the commercial negotiation of the transaction for Gyrus, while Gowling WLG's global health and care and life sciences teams also supported on the deal.

Filomena Frisina, and Cyndi Laval, corporate partners in Toronto and Vancouver respectively, and Jason Mullins, Vancouver associate, advised on the Canadian aspects of the transaction, while partner Ian Piggin and principal associate Stephen Bowman from the firm's London M&A and private equity team advised on the negotiation of the English law aspects of the transaction.

Stephen Bowman said: "We were pleased to work with Gyrus Capital and Nctm on what is a high profile transaction for the health and life sciences sectors.

"The transaction was complex and involved close collaboration with Nctm and our colleagues across our global offices."

Cyndi Laval, added: "The LivaNova HV business is a global player in surgical heart valves with world-class products. We were delighted to work with Nctm to support Gyrus Capital on this exciting acquisition."

Media contacts

Pete Squires Senior Corporate Communications Manager Birmingham