A Faegre Drinker team led by corporate partners Matt Stamski and Brandon Mason advised medical device company Boston Scientific in its acquisition of Devoro Medical, Inc., developer of the WOLF Thrombectomy® Platform. Boston Scientific has been a strategic investor in Devoro Medical since 2019 and currently holds an equity stake of approximately 16 percent. Before considering Boston Scientific’s current equity ownership, debt and other closing adjustments, the transaction price consists of $320 million up front, and up to $80 million upon achievement of certain clinical and regulatory milestones. The transaction is anticipated to close in the fourth quarter of 2021, subject to customary closing conditions.
The deal team included corporate associates Vanessa Tabler, Conor White and Sujata Patel Wiese and legal clerk Katharine Thayer; benefits and executive compensation partner Gayle Skolnik and associate Mark Rosenfeld; energy and environment partner Lynn Kornfeld; FDA-regulated products counsel Ted Lis; labor and employment partner Daniel Prokott and associate Kerry C. Zaroogian; intellectual property partners Jason Kraus and Robert Leonard; and privacy, cybersecurity and data strategy partner Doriann Cain.
Boston Scientific transforms lives through innovative medical solutions that improve the health of patients around the world. As a global medical technology leader for more than 40 years, the company advances science for life by providing a broad range of high performance solutions that address unmet patient needs and reduce the cost of healthcare.
Read Boston Scientific’s press release for more information on the deal.