DLA Piper advises CONMED Corporation in its US$145 million acquisition of In2Bones Global, Inc.
DLA Piper advised CONMED Corporation (NYSE: CNMD) in its agreement to acquire privately-held In2Bones Global, Inc. (In2Bones), on a cash-free, debt-free basis, for cash consideration of US$145 million at closing. The deal also includes an additional US$110 million in growth-based earnout payments over a four-year period.
CONMED is a medical technology company whose products – surgical devices and equipment for minimally invasive procedures – are used by surgeons and physicians in gastroenterology, thoracic surgery and gynecology, among other specialties. Its acquisition of In2Bones – a worldwide, medical devices developer, manufacturer, and distributor for the treatment of injuries and disorders of the lower (foot and ankle) and upper (hand, wrist, elbow) extremities – will allow CONMED to expand its orthopedic portfolio, which is a strategic focus for the company.
“CONMED’s acquisition of In2Bones will make the company a competitive player in the extremities market, both domestic and abroad,” said DLA Piper partner Melissa Reinckens who regularly counsels CONMED on intellectual property disputes and who led the team that advised CONMED here. “It was a pleasure working with a talented interdisciplinary team with extensive transactional capabilities, which enabled us to serve CONMED on this deal, and we look forward to support CONMED’s future growth.”
In addition to Reinckens (San Diego), the DLA team was comprised of partners Blake Jackson (Silicon Valley), Donna Thiel (Washington, DC) and Chung Wei (Silicon Valley); of counsel Susan Acquista (San Diego); and associates Mei Jin (Century City) and Pamela Hwang (San Diego).
With more than 1,000 corporate lawyers globally, DLA Piper helps clients execute complex transactions seamlessly while supporting clients across all stages of development. The firm has been rated number one in global M&A volume for 12 consecutive years, according to Mergermarket.
DLA Piper advises on all aspects of the life sciences sector, combining subject matter experience with considerable knowledge of the scientific, medical, regulatory, commercial and enforcement environments facing biopharmaceutical, medical device, research and diagnostics clients. Recognizing that clients’ needs vary, the firm rapidly organizes and customizes client service teams, whether for a large pharmaceutical company, a mid-sized medical device client or a development-stage biotech company.