Apax to Acquire Remaining Shares in Vyaire Medical
03.19.18
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The Firm is representing Apax Partners in connection with its entry into a definitive agreement to acquire Becton, Dickinson and Company’s (“BD”) remaining ownership interest in Vyaire Medical, Inc., a global leader in respiratory care. The transaction is expected to close by the end of April, subject to customary closing conditions. The other terms of the transaction were not disclosed.
Apax Partners acquired a majority stake in Vyaire Medical, Inc., previously BD’s Respiratory Solutions business, in October 2016. BD initially retained a minority stake in the newly independent company through a joint venture with the Apax Funds.
Vyaire Medical is the leading pure play medical device company in the respiratory space. With approximately $800 million in annual sales, Vyaire Medical is active in manufacturing and distributing both respiratory and anesthesia/surgical consumables as well as capital equipment for respiratory diagnostics and ventilation. Vyaire thereby supports the care of chronic and acute respiratory patients as well as the airway management of surgical patients across the healthcare continuum.
The Simpson Thacher team includes Ryerson Symons and Joseph Bishop-Boros (M&A); Christine Marshall (Credit); Gary Mandel, Sophie Staples and William Smolinski (Tax); Brian Robbins and Patricia Adams (Executive Compensation and Employee Benefits); and Lori Lesser and Amber Harezlak (Intellectual Property).