Date: Nov 21, 2021 Source: (
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Abiomed, Inc. (NasdaqGS:ABMD) agreed to acquire all the assets and business from Sensera, Inc. for $7.5 million on November 22, 2021. Executive Director Ralph Schmitt and Chief Operating Officer Tim Stucchi are expected to continue in their current roles until transaction completion. Thereafter Stucchi is expected to become an Abiomed employee, whereas Schmitt is expected to step down from executive and director duties.
The transaction requires shareholder approval of Sensera, Sensera, Inc obtaining necessary consents, a corporate tax lien waiver from the Massachusetts Department of Revenue and any other tax clearance certificate required to protect Abiomed from liability for Sensera, Inc's tax obligations and certain key employees agreeing to employment agreements with Abiomed from completion and no less than 90% of Sensera employees agreeing to transfer their employment to Abiomed from completion. Failure to complete these conditions by 31 January 2022 will give rise to a termination event under the asset purchase agreement.
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