Gowling WLG's corporate team has acted on behalf of Ottobock on its acquisition of the BeBionic multi-articulated prosthetic hand from Hugh Steeper Limited.
The team advised Ottobock, a world-leading manufacturer and supplier of exo-prosthetics, on the transaction - which saw it expand its product portfolio with the addition of the multi-articulated BeBionic hand.
The BeBionic hand, which is being transferred from the British med-tech company Steeper, lies in the diversity of gripping patterns such as separate control of the index finger.
Professor Hans Georg Näder, President of Ottobock HealthCare GmbH, said: "As the needs and requirements of people who rely on a prosthetic arm change - especially in regards to the increasingly digital working world and recreational environment - integrating BeBionic into our portfolio is another step on our way to future technologies."
The Gowling WLG team was led by corporate lawyers David Vaughan and Laura Kayani who worked closely with IP lawyers Luke Kempton and Mathilda Davidson and commercial lawyer Mike Reed to finalise the deal.
David Vaughan said: "This deal required expertise across a number of different disciplines, including corporate, IP and commercial contracts. It allowed us to support Ottobock in further strengthening its position as a market leader in exo-prosthetics, filling a gap in its product portfolio and accommodating a new generation of users. It was fantastic to work with Ottobock, who are so clearly committed to delivering the highest quality in its approach to every activity, as it continues on its path of innovation as a technological trailblazer."
Christoph Nicola, head of strategic finance PMO at Ottobock said: "Gowling WLG made a rather complex transaction feel very straightforward, demonstrating legal expertise and practical guidance across the various elements involved. They were available whenever we needed their support and combined very well with our internal team."
After a brief transition period, distribution of the prosthetic hand will be controlled exclusively by Ottobock from 1 May 2017.
Gowling WLG's industry-leading UK Corporate team has extensive experience across the full spectrum of corporate advice, including both public and private mergers and acquisitions, equity capital markets on AIM and the Full List, investment funds and private equity. The team was recently highly commended in the Innovation in Mergers and Acquisitions category of the FT Innovative Lawyer Awards.