Blank Rome Represents OrthogenRx in Its $160M Sale to Avanos Medical
A Blank Rome team is representing OrthogenRx, a medical device company, in its $160M sale to U.S.-based Avanos Medical, a medical technology company that provides healthcare solutions focused on pain management and medical devices. Subject to customary closing conditions including clearance under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, the deal is expected to be completed in the first quarter of 2022.
OrthogenRx is engaged in the development and commercialization of treatments for knee pain caused by osteoarthritis. It produces commercial hyaluronic acid therapy products called GenVisc 850 and TriVisc, which are approved by the U.S. Food and Drug Administration. The deal includes a payment of $130M in cash at closing, as well as an additional $30M based on the achievement of growth milestones linked to GenVisc 850 and TriVisc products.
For more information on this transaction, please read Avanos Medical to Buy Medical Device Firm Orthogenrx for $160M (press release, December 14, 2021).
The Blank Rome team is being led by Josh Strober, Linsey Bozzelli, Jourdan Garvey, and Nora Tidey, with significant support from Jeffrey M. Rosenfeld, Frank Dehel, Matt Altomare, Michael Kadlec, Cory Jacobs, Nicole Johnson, Michael Medveckus, Justin Chiarodo, and Carol Buckalew.