Harpoon Medical, a Baltimore-based medical device company, has been acquired by Edwards Lifesciences Corp. for $100 million.
Under the deal, Harpoon, which is developing a device for minimally invasive heart surgery, will become part of California-based Edwards while retaining its West Camden Street offices. All 18 of Harpoon’s employees are joining Edwards.
The acquisition, which closed Dec. 1, stems from a structured financing agreement Harpoon struck with Edwards in 2015. In that deal, Edwards made an investment of undisclosed value in Harpoon’s research and development efforts in exchange for the option to acquire the company after completion of key clinical trials in Europe.
Harpoon’s device is a less invasive alternative for mitral valve repair, designed to shorten the duration of the procedure and recovery period.
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