This record is sourced from an Exhibit 99.1 press release furnished with Acutus Medical's Form 8-K filed April 27, 2022. At the time of announcement, the asset sale to Medtronic was a signed definitive agreement, not yet closed, and was conditioned on antitrust clearance and the simultaneous closing of Acutus's new debt facility.
Perella Weinberg Partners served as sole financial advisor to Acutus on the transaction, per the release's statement that "Perella Weinberg Partners acted as financial advisor to Acutus, and Davis, Polk, & Wardwell served as legal advisors to the Company." No financial advisor to Medtronic is named in this release, and no lead designation applies since Perella Weinberg was Acutus's only disclosed advisor.
On the legal side, Davis, Polk, & Wardwell advised Acutus, while Katten Muchin Rosenman LLP advised Deerfield (the refinancing lender) rather than Medtronic specifically.
Under the terms, Medtronic was to make an upfront cash payment of $50 million to Acutus at initial closing, with additional contingent consideration payments tied to future development and regulatory milestones and future sales; separately, Deerfield committed to a new $35 million debt facility with a five-year maturity to replace Acutus's existing facility.
Not disclosed in the sourced document is the aggregate potential value of the contingent milestone payments (only that they exist), the expected closing date of either the asset sale or the refinancing, or Medtronic's financial or legal advisors on the acquisition.