An international team of lawyers from Osborne Clarke has advised UK-based Creo Medical Group plc on the acquisition of Albyn Medical, a Spanish headquartered manufacturer and distributor of gastroenterology (GI), urology and endoscopy products, for an equity value of €24.8m. The agreement also included a performance-related payment of up to €2.7m, payable over the next two years in cash.
The acquisition provides Creo with Albyn Medical’s extensive sales, service, logistics, production and export capability, providing a direct route-to-market for Creo’s full suite of CE marked GI advanced energy devices. It also adds a highly complementary product range to the company’s portfolio while expanding the GI product suite and providing an opportunity for it to enter the urology market.
Albyn Medical specialises in GI endoscopy and urology with commercial relationships with doctors and hospitals across key European territories. The company’s GI products account for 90% of sales with 10% of revenues derived from urology products.
A team of lawyers from across Osborne Clarke’s international business advised Creo. In Spain, Partner David Miranda led the team alongside Lawyers Sara Barona and Pilar Díaz. In the UK, the team was led by Partner David Ferris with support from Senior Associate Ashley Morris and Associate Rebecca Ewing. Partner David Haccoun and Associate Cyrille d’Amécourt from Osborne Clarke in Paris, and Partner Martin Sundermann and Senior Associate Enno Dreier from Osborne Clarke in Germany also advised.
Osborne Clarke previously advised Creo on its £52m fundraising and £48.5m placing.
Osborne Clarke’s Corporate team is considered the go-to practice for many businesses in the life sciences and healthcare sector. The team advises at every stage of company development across all corporate areas, from equity and debt fundraising to M&A, IPOs and JVs.