Dechert Advises Datascope Corp. in Sale of Patient Monitoring Business to Mindray in All-Cash Deal
March 11, 2008
Dechert News Release
Dechert LLP advised Datascope Corp., a medical device company, in its agreement to sell its patient monitoring business to Mindray Medical International Limited. Datascope will receive $202 million in cash at the closing, subject to a working capital adjustment, and will retain approximately $38 million of receivables generated by the patient monitoring business. The transaction is subject to regulatory approvals and customary closing conditions, and is expected to close during the second calendar quarter of 2008.
Dechert partners Martin Nussbaum, Adam Fox, and Joshua Rawson led the Dechert team that included associates Angela Lee, Victor Semah, and Thomas Rayski, as well as attorneys from the firm’s employee benefits, tax, antitrust, and real estate practice groups. Lehman Brothers was Datascope’s financial advisor while O’Melveny & Myers LLP represented Mindray.
The internationally recognized mergers and acquisitions group at Dechert LLP represents buyers, sellers, and advisers in planning, negotiating, and executing complex commercial transactions around the globe. In the 2006 edition of the leading legal referral guide Chambers USA, clients and peers recognized Dechert as “the quintessential businessman’s law firm” and “the firm of choice for sophisticated, high-level transactions.” It also cited our group as among the best in the country, ranking first in Pennsylvania and in the highest tier for firms of our size in New York. Our practice has also earned top rankings in the latest league tables featured in publications such as Mergerstat, Thomson Financial, Bloomberg, and Corporate Control Alert.