DEAL ANNOUNCEMENT / PRESS RELEASE
McDermott Advises BioSerenity Group on its Acquisition by Jolt Capital
November 23, 2023
Read time: 3 min
BioSerenity Group, four times winner of the French Tech Next40/120 programme, has since its creation been working on improving access to diagnosis and management of chronic diseases (cardiology, neurology and sleep disorders).
Its takeover was realized through a disposal plan, which was approved by the Paris Commercial Court on November 10, 2023. Through this sale plan, BioSerenity Group has ensured the continuation of its three activities: production of connected medical devices, development of software interpreting data using AI engines, and performance of diagnostic procedures.
The French venture capital fund Jolt Capital, which was chosen after a competitive process, has already announced a €24 million investment to accelerate the company’s international development and the deployment of its innovative solutions.
The McDermott team advising BioSerenity Group comprised:
- Timothée Gagnepain, partner, Théophile Jomier, counsel, Rudi Pfortner, associate, on the restructuring aspects
- Anne-France Moreau, partner, on the regulatory/life sciences aspects.
McDermott Will & Emery partners with leaders around the world to fuel missions, knock down barriers and shape markets. Our team works seamlessly across practices and industries to deliver highly effective solutions that propel success. More than 1,400 lawyers strong, we bring our personal passion and legal prowess to bear in every matter for our clients and the people they serve.
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Schulte secures significant victory against Masimo Corp. for $17.75 million “mootness” fee
PRESS RELEASE
Schulte secures significant victory against Masimo Corp. for $17.75 million “mootness” fee
November 21, 2023
Read time: 3 min
Last week, Schulte secured a significant victory against Masimo Corp. in the Delaware Court of Chancery on a request for a $17.75 million “mootness” fee as reimbursement for legal expenses incurred in Politan Capital Management’s lawsuit against Masimo.
“I don’t think it would be an exaggeration to say that Politan blew this case out of the water in terms of achieving pretty much all of the very substantial corporate benefits that it set out to achieve by filing this litigation,” said Vice Chancellor Nathan A. Cook during his ruling.
Schulte, along with its co-counsel, sought the fee in connection with costs incurred before Masimo repealed its preclusive advance notice bylaw amendments and rolled back change in control provisions in its CEO’s employment agreement.
“Zero question, they would never have done that had we not sued them,” said Schulte partner Michael Swartz, representing Politan during oral argument.
Vice Chancellor Cook determined that Politan’s suit opened the path for Masimo shareholders to change control of the company’s board of directors and removed costly provisions that would have required a special payment (in RSUs and cash) valued in excess of $445 million to Masimo CEO Joe Kiani upon the election of Politan’s two nominees to Masimo’s board.
“This court recognizes the obvious fundamental benefit of preserving stockholders’ right to vote and elect directors of their choosing — even if litigation to enforce that right ends up benefiting the plaintiff,” he said.
Michael explained that the stakes for the Politan lawsuit were tremendous; many in the hedge fund industry feared that other companies would follow Masimo’s corporate governance changes if they were allowed to stand.
“Part of the reason we fought so hard was it had implications for the entire industry,” he told the court. “My phone was ringing off the hook by other hedge fund counsel saying, ‘You guys have to win this because we’re out of business if the Delaware Chancery Court somehow upholds these bylaws.’”
Read more in Law360‘s article.
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McDermott Advises the Shareholders of LimFlow on its Sale to Inari Medical, Inc for an Upfront Amount of USD 250 Million
DEAL ANNOUNCEMENT / PRESS RELEASE
McDermott Advises the Shareholders of LimFlow on its Sale to Inari Medical, Inc for an Upfront Amount of USD 250 Million
November 20, 2023
Read time: 3 min
Inari Medical, Inc. (NASDAQ: NARI) (Inari), a medical device company with a mission to treat and transform the lives of patients suffering from venous and other diseases, has announced that it has entered into a definitive agreement to acquire LimFlow, S.A., a privately held pioneer in limb salvage for patients with chronic limb-threatening ischemia (CLTI). Under the terms of the agreement, Inari will pay USD 250 million in cash at closing and LimFlow will be eligible to receive additional cash payments based on certain commercial and reimbursement milestones.
The transaction closed on November 15, 2023.
McDermott Will & Emery led by Bertrand Delafaye and Smith Alpert advised the shareholders of Limflow SA with a French team comprised of Natacha Vasak, Alexandre Bomet and Alice Villagrasa on the corporate side and Romain Desmonts and Fanny Le Pogam on the tax aspects. The US team led by Smith Alpert was made up of several US teams in Tax, IP and Employment Benefits. The McDermott team also worked on the French and US regulatory aspects, with Sabine Naugès and Benoit Feroldi in Paris.
McDermott Will & Emery partners with leaders around the world to fuel missions, knock down barriers and shape markets. Our team works seamlessly across practices and industries to deliver highly effective solutions that propel success. More than 1,400 lawyers strong, we bring our personal passion and legal prowess to bear in every matter for our clients and the people they serve.
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McDermott Ranked Among Top 50 Leading Firms in Germany by the JUVE Handbook 2023/2024
AWARDS & RANKINGS / PRESS RELEASE
McDermott Ranked Among Top 50 Leading Firms in Germany by the JUVE Handbook 2023/2024
November 20, 2023
Read time: 4 min
November 20, 2023 – International law firm McDermott Will & Emery has been recognized in the JUVE Handbook 2023/2024 as one of the top 50 leading law firms in Germany. This year the German practice received 24 practice area rankings and 26 lawyer recognitions.
The practice earned two new practice rankings in Compliance Investigations (Tier 5) and Public Law: Environmental and Planning (Tier 6). Additionally, the team moved up in rankings for Investment Funds: Fund Supervision & Investments (Tier 4) and Employment Law (Tier 7).
The team has been praised for its “solution-oriented approach” and for being “pragmatic, responsive and practical,” noting that the team works on large projects “as precisely as clockwork.”
24 Practice Rankings:
- Healthcare: Hospitals, Medical Care Centers and Pharmacies – Tier 2
- TMT: Media Regulation – Tier 2
- Healthcare: Transactions in the Pharmaceutical Sector – Tier 3
- Private Equity Transactions (Mid-Cap) – Tier 3
- Real Estate and Construction: Real Estate Business Law – Tier 3
- Real Estate and Construction Law: Project Development and Plant Construction – Tier 3
- TMT: Media Contract & Copyright Law – Tier 3
- TMT: Media Transactions & Financing – Tier 3
- Corporate Law – Tier 4
- Dispute Resolution: Product Liability – Tier 4
- Healthcare: Pharmaceutical and Medical Device Law – Tier 4
- Investment Funds: Fund Supervision & Investments – Tier 4 (UP)
- TMT: Information Technology: Transactions/Outsourcing – Tier 4
- Mergers & Acquisitions – Tier 4
- Administrative and Constitutional Law – Tier 5
- Compliance Investigations – Tier 5 (NEW)
- Insolvency/Restructuring Advice – Tier 5
- Investment Funds: Fund Structuring – Tier 5
- TMT: Information Technology: Contracts and Trials – Tier 5
- Dispute Resolution: Litigation – Tier 6
- Public Law: Environmental and Planning – Tier 6 (NEW)
- Antitrust Law – Tier 7
- Employment Law – Tier 7 (UP)
- Patent Litigation/Lawyers – Tier 7
26 Lawyers Recommended:
- Thomas Beisken
- Carsten Böhm
- Maximilian Clostermeyer
- Michael Cziesla
- Holger Ebersberger
- Ulrich Flege
- Philipp Grenzebach
- Uwe Goetker
- Thomas Hauss
- Henrik Holzapfel
- Jan Hückel
- Rolf Hünermann
- Clemens Just
- Matthias Kampshoff
- Christian Krohs
- Christian Masch
- Jens Ortmanns
- Stephan Rau
- Frank Müller
- Philipp Schäuble
- Norbert Schulte
- Benedikt Schulz
- Volker Teigelkötter
- Wolfgang von Frentz
- Holger Weiß
View the full ranking results.
About JUVE Handbook
The JUVE Handbook, now in its 26th Edition, is published in the German language. The guide features rankings and editorial assessments of law firms across a significant range of practice areas and includes detailed regional and national coverage. The directory is renowned for its reports and analysis on the legal market in Germany. Rankings and editorial commentary are based on independent research, and interviews with clients and lawyers.
McDermott Will & Emery partners with leaders around the world to fuel missions, knock down barriers and shape markets. Our team works seamlessly across practices and industries to deliver highly effective solutions that propel success. More than 1,400 lawyers strong, we bring our personal passion and legal prowess to bear in every matter for our clients and the people they serve.
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McDermott Represents Passerelle Partners in its Partnership with Simplicity Group Holdings, Inc.
DEAL ANNOUNCEMENT / PRESS RELEASE
McDermott Represents Passerelle Partners in its Partnership with Simplicity Group Holdings, Inc.
November 15, 2023
Read time: 3 min
International law firm McDermott Will & Emery represented Passerelle Partners (Passerelle), a boutique insurance advisory firm, in its acquisition by Simplicity Group Holdings, Inc. (Simplicity), a leading financial products distribution firm. Fernando Pou, Victoria Mayer and Chris Daniels, founders of Passerelle, became Simplicity’s newest partners.
Passerelle specializes in advising ultra-high net worth clients globally as well as partnering with professional advisors in premium finance structures, bespoke financial products and wealth management solutions. With offices in Miami, Charlotte, Chicago and Minneapolis, Passerelle serves US and international based private clients as well as professional insurance advisors, delivering creative solutions to preserve and enhance their clients’ assets and legacy. Passerelle focuses on asset diversification, wealth preservation, wealth transfer and liability management solutions.
The McDermott team was led by Michael Halsband along with Christopher Stacker, John Lutz, Andrew Granek, Marisa Young and Leigh Solomon, and included Nicole Cortina, Judith Diamond, Cristell Fortune, Edward Gordon, Jonathan Hague, Gregory Heltzer, Jennifer Hill, Jeffrey Holdvogt, Richard Call, Timothy (Ty) Carson, Gary Karch, Courtney Loyack, Wendy Phinny, Marisa Poncia, David Saunders, Michelle Strowhiro and John Zhang.
McDermott Will & Emery partners with leaders around the world to fuel missions, knock down barriers and shape markets. Our team works seamlessly across practices and industries to deliver highly effective solutions that propel success. More than 1,400 lawyers strong, we bring our personal passion and legal prowess to bear in every matter for our clients and the people they serve.
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McDermott Significantly Expands European Antitrust Offering, Adding Seasoned Partner in Brussels
PRESS RELEASE
McDermott Significantly Expands European Antitrust Offering, Adding Seasoned Partner in Brussels
November 13, 2023
Read time: 4 min
International law firm McDermott Will & Emery bolsters its Antitrust Practice Group in Brussels with the addition of Axel Schulz as partner. Axel is a distinguished antitrust lawyer with experience handling high-profile competition cases before the European Commission and the European Court of Justice, with emphasis on merger control, cartel defense and antitrust disputes. His arrival further boosts the Firm’s European competition capabilities: Axel will work alongside teams lead by Hendrik Viaene, Stéphane Dionnet and Jacques Buhart in Brussels; Christian Krohs, Carina Kant and Dr. Laura Stammwitz in Germany; Frédéric Pradelles in Paris; and the Firm’s US antitrust team.
“Having assisted major global players in their multinational antitrust matters, Axel brings a terrific track record of leading his clients to successful outcomes,” said Ray Jacobsen, global head of McDermott’s Antitrust Practice Group. “His arrival will expand collaboration with our wider regulatory practice and tap into our Firm’s strengths serving healthcare clients.”
Axel provides advice and comprehensive solutions to scenarios involving numerous jurisdictions, and handles merger control cases across a broad range of industries, including energy, chemicals, agri commodities, container shipping, ports, pigments, medical devices and pharmaceuticals. He is particularly experienced in supporting clients in the pharma sector dealing with complex competition issues.
“Our clients operate in an increasingly elaborate legal environment, and competition matters are among the major considerations in their business strategies,” said Hendrik Viaene, managing partner of McDermott’s Brussels office. “Axel’s deep experience dealing with multijurisdictional complexities will make him an asset to our global team and our clients.”
“McDermott is well known for its robust global platform and collaborative spirit across the Firm,” Axel said. “I believe it will provide an excellent base to expand my practice.”
Axel is admitted to the Munich and Brussels bar.
ABOUT McDERMOTT’S GLOBAL ANTITRUST PRACTICE
McDermott continues to expand its international footprint in antitrust and competition with a spate of prominent appointments over the last several years, including European heavyweights and multiple US antitrust veterans with deep experience in the private and government sectors. They join an outstanding team of 57 lawyers across offices in Brussels, Chicago, Düsseldorf, Los Angeles, New York, Paris and Washington, DC.
With a talented team across the globe, McDermott provides effective, coordinated counsel on US antitrust law, EC competition law and other competition laws worldwide, including antitrust litigation, cartel defense, state aid, consumer protection, government investigations, health and Intellectual Property antitrust and merger clearance.
McDermott Will & Emery partners with leaders around the world to fuel missions, knock down barriers and shape markets. Our team works seamlessly across practices and industries to deliver highly effective solutions that propel success. More than 1,400 lawyers strong, we bring our personal passion and legal prowess to bear in every matter for our clients and the people they serve.
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McDermott Represents Bradford Health Services in its Acquisition of Vertava Health of Southaven, MS
DEAL ANNOUNCEMENT / PRESS RELEASE
McDermott Represents Bradford Health Services in its Acquisition of Vertava Health of Southaven, MS
November 13, 2023
Read time: 3 min
International law firm McDermott Will & Emery represented Bradford Health Services (Bradford Health), a leading provider of addiction treatment and recovery services, in its acquisition of Vertava Health of Southaven, MS (Vertava Health), a comprehensive provider of addiction treatment and mental health services for individuals in the North Mississippi and Memphis areas seeking comprehensive and compassionate care for substance use issues.
This strategic acquisition marks a significant expansion of Bradford Health’s presence in the Southeast and its commitment to delivering high-quality addiction treatment and mental health services in North Mississippi and surrounding areas.
Bradford Health is one of the largest and longest-tenured providers of substance abuse treatment and recovery services in the Southeast. Through a coordinated network of 40 facilities, Bradford Health offers affordable, proven treatment services across the entire spectrum of acuity, including early intervention services, crisis response, intensive outpatient care, partial hospitalization and residential care, inpatient detox and transitional living and life skills programming.
The McDermott team was led by Michael Hacker and Alexander Clavero and included Jenna Young, Daniel Fernandez, Joel Rush, Sarah Kitchell, Chelsea Rutherford, Alya Sulaiman, Marshall Jackson, Danielle Scheer, Callee Donovan, Deepali Doddi, Kevin Hall, Andrew Granek, Daphne Trotter, Kate Williams, Sarah Bro, Courtney Seams, Brian Mead, Allison Wilkerson, Teal Trujillo, Heather Bethancourt and Evelyn Yu.
Read Bradford Health’s announcement.
McDermott Will & Emery partners with leaders around the world to fuel missions, knock down barriers and shape markets. Our team works seamlessly across practices and industries to deliver highly effective solutions that propel success. More than 1,400 lawyers strong, we bring our personal passion and legal prowess to bear in every matter for our clients and the people they serve.
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McDermott’s Latin America Practice Recognized in The Legal 500 Latin America 2024
AWARDS & RANKINGS / PRESS RELEASE
McDermott’s Latin America Practice Recognized in The Legal 500 Latin America 2024
November 10, 2023
Read time: 4 min
November 10, 2023 – International law firm McDermott Will & Emery has been recognized in The Legal 500 Latin America 2024.
McDermott’s Latin America practice continues to hold its position in Corporate M&A (Tier 5), noted for “tax-driven M&A matters and fund formation operations,” and further recommended for its “particular profile for cross-border real estate transactions, including inbound and outbound deals.”
The practice is also “recognized for representing Latin American high-net-worth individuals and family offices (especially those based in Mexico and Brazil), along with prominent multinationals and financial sponsors.”
Additionally, McDermott maintained a ranking in City Focus: Miami (Spotlight Table). The Firm was praised for having a “strong cohort of international tax lawyers that have extensive experience in cross-border transactions with Latin America. The team is best known for inbound investments into the US from the region – particularly from Brazil. Many of these transactions involve south Florida, with real estate investments a particularly active segment.”
Beyond the practice recognitions, five lawyers in the group were recommended by The Legal 500 Latin America 2024:
Learn more about McDermott’s Latin America practice .
ABOUT THE LEGAL 500
The Legal 500 Series, now in its 37th year, is widely acknowledged as the world’s largest legal referral guide. More than 300,000 buyers of legal services are surveyed and interviewed globally each year. The Legal 500 is an independent guide, and firms and individuals are recommended purely on merit. It is the only guide to truly reflect the needs of corporate counsel by focusing on the strength in depth of the teams (practice and associates) rather than simply listing individual partners.
McDermott Will & Emery partners with leaders around the world to fuel missions, knock down barriers and shape markets. Our team works seamlessly across practices and industries to deliver highly effective solutions that propel success. More than 1,400 lawyers strong, we bring our personal passion and legal prowess to bear in every matter for our clients and the people they serve.
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McDermott Represents White Cap Supply Holdings, LLC in its Acquisition of BrownCo Manufacturing & Sales, LLC
DEAL ANNOUNCEMENT / PRESS RELEASE
McDermott Represents White Cap Supply Holdings, LLC in its Acquisition of BrownCo Manufacturing & Sales, LLC
November 7, 2023
Read time: 3 min
International law firm McDermott Will & Emery represented White Cap, L.P. (White Cap) in its acquisition of BrownCo Manufacturing & Sales, a leading distributor of specialty concrete products for commercial and highway and bridge contractors across Oklahoma.
The McDermott team was led by Anne Cox-Johnson and included Matthew Chen, Eleanor Atkins, Stephania Sanon, Caitlin Drott, Patrick Ryan, Jennifer Hill, Fran Forte, Jacob Hollinger, with assistance from Kellie McNear.
Read White Cap’s press release.
ABOUT WHITE CAP
White Cap and its affiliates serve as a one-stop shop, providing concrete accessories and chemicals, tools and equipment, building materials and fasteners, erosion and waterproofing products and safety products to professional contractors by meeting their distinct and customized supply needs in non-residential, infrastructure, and residential end markets. White Cap operates approximately 450 branches across North America with more than 9,500 employees supporting approximately 200,000 customers.
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McDermott Advises VREP on Investment in Midoco Group
DEAL ANNOUNCEMENT / PRESS RELEASE
McDermott Advises VREP on Investment in Midoco Group
6. November, 2023
Read time: 3 min
Frankfurt, November 6, 2023 – McDermott Will & Emery has advised VR Equitypartner (VREP) on the acquisition of a significant minority stake in Midoco Holding GmbH.
As part of the transaction, VREP acquires all shares from the previous financial investors. The Midoco management and founding team will retain a stake in the company. The transaction is expected to close mid-November of this year. Both parties have agreed not to disclose the purchase price.
It is planned to continue Midoco’s buy & build strategy in the coming years.
The Midoco Group, with Midoco GmbH in Hilden, Germany, and Umbrella AG in Wetzikon, Switzerland, is a leading provider of mid-office software for the travel industry. Founded in 2005, the company serves travel agency chains, business travel agencies and tour operators in over 60 countries.
VR Equitypartner, a subsidiary of DZ Bank, is one of the leading equity financiers for medium-sized companies in Germany, Austria and Switzerland. VREP’s portfolio currently comprises around 60 companies with a total investment volume of €400 million.
The team advising VR Equitypartner was led by partner Michael Cziesla and included partners Philip Schmidt, Gudrun Germakowski, Johannes Honzen, Ludwig Zesch and Heiko Kermer, counsel Christian Marzlin, Claus Färber, Laura Stammwitz and Marcus Fischer as well as associates Lisa Schickling, Sebastian Gerstner, Simon Apelojg, Matthias M. Bosbach, Romy Lanz, Lukas Deutzmann and Tina Knecht.
