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AorTx Acquired By Hansen For $10 Million

Monday, November 5, 2007 5:30:00 AM PDT | VentureDeal Staff
PALO ALTO, CA -- Medical device developer AorTx was acquired by Hansen Medical, Inc. for $10 million in cash and stock plus a possible earn-out.

AorTx is developing a minimally invasive aortic valve replacement device for patients with valve insufficiency.

The terms of the transaction call for series of milestone earnouts that total up to $15 million in Hansen Medical common stock and $15 million in cash upon the achievement of regulatory clearances, revenue and partnering milestones.

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PCI - Level1