Copenhagen-based Ambu said it paid $133.2 million (€115 million) up front for Invendo, with another $127.4 million (€110 million) in possible milestones. Those include a $81.1 million (€70 million) payment pegged to FDA clearances and $46.3 million (€40 million) in earnouts over four years. Some $11.6 million (€10 million) is expected to come due this fiscal year after Invendo wins 510(k) clearance from the FDA for the next iteration of its HD colonoscope.
Kissing, Germany-based Invendo, which employs 35 workers, was founded in 2002.
“This acquisition is a massive upgrade of our business potential. We introduced single-use endoscopy for airway procedures with the Ambu aScope, and now, we will get ready to introduce single-use for the gastrointestinal procedures,” CEO Lars Marcher said in prepared remarks. “This is an important acquisition that puts Ambu in an ideal position to further disrupt the reusable market within endoscopy.”
($1 = €0.863118)