U.K.-based medical technology company LivaNova has reached a deal to sell its heart valve business, around six weeks after PrimeStone Capital called for a breakup.

LivaNova agreed to sell its heart valve business, which offers mechanical options for aortic valve replacement, to Gyrus Capital, a healthcare investment firm. Gyrus will pay 60 million euros for the business, excluding the French part, for which negotiations are separate.

The company expects the deal to close in the first half of 2021, with the divestiture also resulting in a net non-cash impairment charge of between $200 million and $225 million. Shares in LivaNova were up nearly 3% on Thursday, before the deal was announced.

PrimeStone has declined to comment on the deal.

In a letter in mid-October, PrimeStone urged the company to divest its cardiopulmonary business and sell or close the loss-making heart valves division. LivaNova said the divestiture will help sharpen its focus on its primary platforms — neuromodulation and cardiovascular.

Goldman Sachs is serving as a financial adviser to LivaNova while Cleary Gottlieb Steen & Hamilton is legal counsel.