Wallaby Medical acquires German market leader for neurovascular products phenox

Berlin — The global medi­cal tech­no­logy company Wallaby Medi­cal acqui­red the German market leader for neuro­vas­cu­lar products, phenox GmbH, and its sister company femtos GmbH. The tran­sac­tion was comple­ted with a purchase price of appro­xi­m­ately €500 million, inclu­ding mile­stone payments. Wallaby Medi­cal finan­ced the acqui­si­tion of phenox using proceeds from its previously closed Series D finan­cing round, which was supported by leading health­care investors.

Wallaby Medi­cal and phenox have been stra­te­gic part­ners since 2019. phenox exclu­si­vely distri­bu­tes Wallaby’s Avenir® Coil System in the US and Europe and Wallaby’s Espe­rance™ aspi­ra­tion cathe­ters in the US market. The now comple­ted acqui­si­tion repres­ents one of the largest trans­na­tio­nal tran­sac­tions in the medi­cal device indus­try and is driven by strong growth oppor­tu­ni­ties in terms of product port­fo­lio and geogra­phic expan­sion. In perspec­tive, the company will become a global leader in provi­ding a wide range of neuro­vas­cu­lar tech­no­lo­gies and solu­ti­ons to custo­mers and pati­ents around the world, inclu­ding the U.S., China, Europe, Japan and other inter­na­tio­nal markets.

Follo­wing the successful closing, Michael Alper, CEO of Wallaby, will now become CEO of the combi­ned company. Prof. Dr.-Ing. Hermann Monstadt, foun­der of phenox, will assume the role of Mana­ging Direc­tor of phenox. All exis­ting phenox brands will be continued.

About phenox

Since its foun­ding in 2005, phenox has estab­lished itself as a global inno­va­tion leader in neuro­vas­cu­lar devices for the inter­ven­tio­nal treat­ment of stroke. The company has a broad product port­fo­lio cove­ring ischemic and hemor­rha­gic stroke treat­ment, as well as medi­cal access and care. phenox’s core products include the p64/p48 series flow diver­ters for the treat­ment of intra­cra­nial aneu­rysms and the pRESET series stent retrie­vers for mecha­ni­cal throm­bec­tomy in ischemic stroke. In addi­tion, phenox has its own coating tech­no­lo­gies to opti­mize its perma­nent and short-term implants. Based on inter­na­tio­nally leading clini­cal data, phenox products are distri­bu­ted in over 45 count­ries world­wide. phenox has subsi­dia­ries in Italy, Great Britain, Ireland and the USA. https://phenox.net/international.

Advi­sor Wallaby Medi­cal: YPOG
Dr. Tim Schlös­ser (Lead, Corporate/Transactions), Partner
Dr. Malte Berg­mann (Tax/Transactions), Partner
Dr. Stephan Bank (Corporate/Transactions), Partner
Dr. Jörn Wöbke (Corporate/Transactions), Partner
Dr. Johan­nes Janning (Corporate/Transactions), Asso­cia­ted Partner
Dr. Bene­dikt Flöter (IP/IT), Asso­cia­ted Partner
Matthias Kres­ser (Corporate/Transactions), Asso­cia­ted Partner
Ann-Kris­­tin Loch­mann (Tax/Transactions), Asso­cia­ted Partner
Barbara Hasse (Corporate/Transactions), Associate
Chris­tiane Schnitz­ler (Tran­sac­tions), Associate

About Wallaby Medical
Wallaby Medi­cal is a global medi­cal device company specia­li­zing in the deve­lo­p­ment and commer­cia­liza­tion of neuro­vas­cu­lar inter­ven­tio­nal products for the treat­ment of stroke. Wallaby’s product port­fo­lio includes the Avenir® Coil System, a tech­ni­cally diffe­ren­tia­ted neuro­em­bo­lic coil system for the treat­ment of intra­cra­nial aneu­rysms and other neuro­vas­cu­lar anoma­lies, the Espe­rance™ Aspi­ra­tion Cathe­ter, appro­ved in the U.S. and China for the treat­ment of ischemic stroke, and the Espe­rance™ Distal Access Cathe­ter, appro­ved in China for deli­very assis­tance. In addi­tion, Wallaby has a full range of neuro­vas­cu­lar products in deve­lo­p­ment. Wallaby’s products are curr­ently distri­bu­ted in over 30 count­ries and regi­ons. For more infor­ma­tion, visit www.wallabymedical.com.

About YPOG

YPOG is a specia­list tax and commer­cial law firm opera­ting in the core areas of Corpo­rate, Funds, Liti­ga­tion, Tax, Tran­sac­tions, IP/IT, Notary Services, Banking + Finan­cial Services and FinTech + Block­chain. The YPOG team advi­ses a wide variety of clients. These include emer­ging tech­no­logy compa­nies and family-run medium-sized enter­pri­ses as well as corpo­ra­ti­ons and private equity/venture capi­tal funds. YPOG is one of the leading addres­ses for venture capi­tal, private equity and fund struc­tu­ring in Germany. The firm and its part­ners are natio­nally and inter­na­tio­nally ranked by JUVE, Best Lawy­ers, Legal 500, Focus, and Cham­bers and Part­ners. Today, YPOG employs more than 90 expe­ri­en­ced lawy­ers, tax advi­sors, tax specia­lists and a notary in three offices in Berlin, Hamburg and Colo­gne. www.ypog.law as well as www.linkedin.com/company/ypog.