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news.HealthpointCapital Partners II has acquired Paris-based Ideal Medical Products through its subsidiary Healthpoint (Luxco) II.
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The acquisition is a two-step process. The initial E42.3 million cash payment will purchase the privately held Carli family interest in Ideal Medical Products, and then a tender offer will be made for the public minority interest of Ideal Medical Products for E21.56 cash per share.
In addition, HealthpointCapital will assume certain assets and liabilities of Ideal Medical Products. Separately, Olivier Carli, chairman and CEO of Ideal Medical, will acquire the majority of the Ideal Medical Products hospital engineering assets for E7 million.
Ideal Medical Products is the principal shareholder and will remain principal shareholder of leading spinal implant developer Scient’x.
John McCormick, a managing director of HealthpointCapital, said: “We are pleased to announce this all-cash acquisition of Ideal Medical Products. This will allow our firm to directly invest in and grow Scient’x by maintaining and leveraging our existing distributor relationships, investing in product innovation, surgeon training and clinical data programs globally and conducting FDA clinical trials in the US. We look forward to growing Scient’x with its talented management team and employees.”