Hogan Lovells advises Palette Life Sciences on Acquisition by Teleflex
Washington D.C. 2 August 2023 – Hogan Lovells has advised global life sciences company, Palette Life Sciences, on its acquisition by medical technologies provider Teleflex Incorporated.
The definitive agreement entered into is for U.S.$600 million at closing, with up to a further U.S.$50 million subject to the meeting of agreed commercial milestones. It facilitates the global commercial expansion of Palette’s portfolio of Non-Animal Stabilized Hyaluronic Acid (NASHA)-based products, including the first and only hyaluronic acid rectal spacer that significantly reduces radiation delivered to the rectum during prostate cancer radiation therapy.
The expansion of Teleflex’s Interventional Urology portfolio to include these products targets improved patient outcomes in urology and urogynecology disorders, colorectal conditions, and radiation oncology procedures.
The Hogan Lovells Life Sciences and Health Care sector team advising Palette is led by medical device and technology regulatory partners John Smith and Michael Heyl, with antitrust partner Robert Baldwin.
The transaction is subject to closing conditions including regulatory approvals, with completion expected in Q4 2023.
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