Foley Hoag Advises Abiomed, Inc. in its Acquisition of ECP
July 1, 2014
Foley Hoag recently advised Abiomed, Inc., a leading manufacturer of heart and circulatory support devices, in its acquisition of the German company ECP Entwicklungsgesellschaft mbH (“ECP”). The acquisition closed on July 1st for an initial purchase price of $13 million in cash, with additional potential payouts of up to $15 million becoming due based on the achievement of certain technical and commercial milestones. In conjunction with the acquisition of ECP, Abiomed acquired AIS GmbH Aachen Innovative Solutions (“AIS”) for approximately $2.75 million.
Since its inception in 1981, Abiomed has succeeded in groundbreaking medical developments, such as creating the world’s smallest heart pump and the first total artificial heart. The acquisition of ECP, a medical device company researching catheter-based blood pumps, and AIS, the owner of related intellectual property rights, will strengthen Abiomed’s future pursuits of creating minimally invasive circulatory devices. Abiomed, Inc. is based in Danvers, MA.
Foley Hoag partner Mark Haddad and associate Alex Khalarian primarily advised Abiomed in these transactions, with additional assistance from German co-counsel, Jones Day.
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