December 14, 2021
Royal Philips (NYSE: PHG; AEX: PHIA), a global leader in health technology, has announced that it has signed an agreement to acquire Vesper Medical Inc., a US-based medical technology company that develops minimally-invasive peripheral vascular devices. Vesper Medical will further expand Philips’ portfolio of diagnostic and therapeutic devices with an advanced venous stent portfolio for the treatment of deep venous disease. The transaction, which is subject to customary closing conditions, is expected to be completed in the first quarter of 2022. Financial details of the transaction were not disclosed.
Latham & Watkins LLP represents Vesper Medical in the transaction with a corporate deal team led by Boston partner Hans Brigham, with Boston associates Stefanie Vincent, Anna Rainsford, and Daniel McCarthy. Advice was also provided on tax matters by Bay Area partner Grace Lee, with Boston associate Jeremiah Cowen; on benefits and compensation matters by New York partner Austin Ozawa; on intellectual property matters by Boston partner Sarah Gagan, with Boston associate Seth Appiah-Opoku; on data privacy matters by Bay Area counsel Heather Deixler, with Los Angeles associate Heather Lui; on FDA regulatory matters by Washington, D.C. partner Elizabeth Richards, with Washington, D.C. associate Kathryn Culver; on healthcare regulatory matters by Bay Area counsel Betty Pang, with Washington, D.C. associate Alyssa Lattner; on antitrust matters by Washington, D.C. counsel Patrick English.