NeoTract to Be Acquired by Teleflex
On September 5, 2017, medical device company Teleflex and NeoTract, a urology company focused on the treatment of BPH through its UroLift System, announced that the companies have entered into a definitive agreement under which Teleflex will acquire NeoTract in a transaction valued up to $1.1 billion. Under the terms of the agreement, Teleflex will acquire NeoTract for an upfront cash payment of $725 million upon the closing of the transaction, and up to an additional $375 million upon the achievement of certain commercial milestones related to sales through the end of 2020. Wilson Sonsini Goodrich & Rosati is representing NeoTract in the transaction.
The deal, which was approved by the boards of directors of both companies, is expected to close within the next 30 days, subject to customary closing conditions.
The WSGR team representing NeoTract in the transaction includes:
Rob Ishii, Partner
Philip Oettinger, Partner
Derek Liu, Associate
Emma Sarkisyan, Associate
Brian Chan, Associate
Employee Benefits and Compensation:
Scott McCall, Partner
Michael Klippert, Associate
Myra Sutanto Shen, Partner
Bernard Bluhm, Associate
James Clessuras, Partner
Barath Chari, Associate
Scott Sher, Partner
Christopher Williams, Associate
David Hoffmeister, Partner
Jon Nygaard, Attorney
Click here to read the companies' joint press release.