LONDON, March 18 /PRNewswire/ -- Greenberg Traurig Maher LLP represented the private equity sellers and senior management of ApaTech Limited, a private equity-backed, UK-based orthobiologic products company, in its sale to global health care company Baxter International Inc. The transaction closed on 12 March and, as a result, Baxter acquired all of the outstanding equity of ApaTech for total consideration of up to US$330 million.
In this transaction, Baxter acquired ACTIFUSE, a silicate substituted calcium phosphate synthetic bone graft material currently marketed in the United States, EU and other select markets around the world. Baxter also acquired manufacturing and R&D facilities located in the UK, United States and Germany.
Under the terms of the agreement, Baxter made an upfront cash payment of US$240 million, and may make additional payments of up to US$90 million related to the achievement of sales milestones.
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