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 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 Wilson Sonsini team representing NeoTract in the transaction includes:

Corporate/M&A:
Rob Ishii, Partner
Philip Oettinger, Partner
Emma Sarkisyan, Associate
Brian Chan, Associate

Employee Benefits and Compensation:
Scott McCall, Partner
Michael Klippert, Associate

Tax:
Myra Sutanto Shen, Partner

Technology Transactions:
James Clessuras, Partner
Barath Chari, Associate

Regulatory:
David Hoffmeister, Partner

Click here to read the companies' joint press release.