In’Tech Medical Sold to Eurazeo PME
June 13, 2017
PARIS – Dechert LLP advised In’Tech Medical, a manufacturer of high-precision surgical orthopedic instruments founded in 1999 and operating in France, the United States and Malaysia on its acquisition negotiations with Eurazeo PME, a French investment company and subsidiary of Eurazeo dedicated to majority investments in French companies with a value of less than €200 million.
Eurazeo PME acquired 80% of In’Tech Medical’s capital for a €78 million investment in equity and convertible bonds to TCR Capital, majority shareholder of In’Tech Medical since September 2012. In 2016, In’Tech Medical’s revenues reached €55 million with an average annual growth rate of 15% over the past 15 years. In’Tech Medical acquired the US-based Turner Medical in 2015, and Malaysia-based Ortho Solutions in 2016. This transaction should enable In’Tech Medical to strengthen its position of market leader. The deal is expected to close in July 2017.
The Paris-based Dechert team advising In’Tech Medical on this transaction was led by Bruno Leroy and Charles Cardon, assisted by associates Damien Fénard, Chahinez Meddeber and Pierre-Emmanuel Floc’h on tax aspects, and Xavier Leroux and Judith Malka on transactional aspects.
Read the press release in French (PDF): "Acquisition d'In'Tech Medical par Eurazeo PME"
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