International law firm Stephenson Harwood LLP has advised healthcare company BTG PLC on its acquisition of Galil Medical, a US-based kidney cancer treatment company, in a deal worth up to US$110 million.
FTSE 250-listed BTG will pay an initial cash consideration of US$84.5 million to acquire Galil, plus up to US$25.5 million in future regulatory and commercial milestone payments through to the end of 2018. Galil is a privately-owned company based in Minnesota which owns, manufactures and sells a portfolio of cryoablation systems and needles used for treating kidney and other types of cancer.
The Stephenson Harwood team was led by partner Andrew Edge, head of the firm’s corporate practice.
Morgan, Lewis & Bockius’ Princeton office and Israeli firm Goldfarb Seligman also advised BTG.