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.
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.
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.