Greenaway Scott advises on cross border acquisition of Medisize B.V.
Wednesday 29th November 2017
This is the latest cross border transaction advised upon by the firm, having recently advised German bitcoin exchange Vaultoro on its seven figure investment from fintech investor Finlab AG and US based medical device company Clinical Innovations Inc on its acquisition of Brenner Medical GmbH earlier this year.
Flexicare is a leading supplier and manufacturer of medical devices with an international presence in more than 105 countries worldwide as well as various subsidiaries in the US, Middle East, India, China, Japan and Malaysia.
The acquisition of Medisize will provide Flexicare with an enhanced presence in mainland Europe. Medisize, which is a manufacturer in specialising in the supply and distribution of a wide range of respiratory and anaesthesia products for critical care, neonatology, emergency, homecare and radiology has subsidiaries in Germany and Italy and operates wide sales and distribution networks in the Netherlands. The acquisition of Medisize will enable both organisations to focus on their differing areas of expertise, and better serve the needs of their distinct customer groups.
Commenting on the deal, Flexicare Managing Director Hash Poormand said:
"This transaction underscores our commitment across Europe to be a leader in airway management and anaesthesia, with the ability to deliver and service the market at scale.
"The rapid organic growth that we have enjoyed, as a result of our innovative product portfolio and recent acquisitions, will give us further reach and the combination of the two companies will increase the value Flexicare and Medisize B.V. deliver to its customers and end users. The acquisition is expected to immediately accelerate revenue growth and drive overall earnings growth potential for Flexicare's wider range of anaesthesia and airway management products, truly exciting times ahead."
Matt Jennings, CEO and President, Phillips-Medisize commented:
"We believe this is a very positive transaction for both Flexicare and Phillips-Medisize. The Airway Management business closely aligns with Flexicare's vision. Flexicare's strength and presence in this market makes them well-positioned to fully leverage the talent and expertise of the Airway Management team in continuing to provide innovative airway management solutions."
Matthew Sutton of law firm Greenaway Scott led the acquisition on behalf of Flexicare and commented:
"Greenaway Scott were delighted to advise Flexicare on this strategic acquisition. Through our international network of specialist law firms we were able to lead the process and advise our client on this multi-jurisdictional transaction. Congratulations to the Flexicare team".