Under the terms of the deal, Endosense shareholders will receive an upfront payment of CHF159m, which could be followed by an additional CHF150m if the company reaches certain regulatory milestone.
Antwerp-headquartered Gimv said that the return was above its historic average, but did not disclose any further details. It added that the sale already has a positive impact of €5.4m on its equity value.
Endosense, which is based in Geneva, is focused on improving the efficacy, safety and accessibility of catheder ablation for the treatment of cardiac arrhythmias. Its core product is TactiCath, the industry’s first force-sensing ablation catheder.
Gimv first backed Endosense in 2009 when it participated in the company’s CHF38m Series B round alongside Edmond de Rothschild Investment Partners, Neomed, VI Partners, Sectoral Asset Management, Ysios Capital Partners, Initiative Capital Romandie and NGN Capital.
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