Travers Smith LLP has advised Swedish-listed medtech company Addlife as it continues its expansion in Europe with the acquisition of the Healthcare 21 Group (HC21). HC21 is a leading independent Life Science distributor with operations in Ireland and the UK with sales in FY20 of approximately EUR 171 million and around 450 employees
Addlife acquired HC21 from its founders, certain senior management and H2 Equity Partners for an initial consideration of EUR 240 million, comprising 74% in cash and 26% in newly issued class B shares in Addlife. Additional consideration up to a maximum of EUR 5 million may also become payable.
Travers Smith worked alongside Swedish law firm Advokatfirman Delphi on the acquisition, with support also provided on the Irish law aspects by Mason Hayes & Curran LLP.
The Travers Smith team was led by Corporate Partner Mohammed Senouci, together with Corporate Senior Associate Simon Inder and Corporate Associate James Lansdown. Other specialist advice was provided in relation to Tax matters by Partner Russell Warren and Associate Anthony Reeves, Commercial, IP & Technology matters by Partner Ben Chivers, Senior Associate Richard Offord and Associate Andy Maxwell and Operational Risk & Environment matters by Partner Doug Bryden and Associate Harrie Narain.