Kaye Scholer Advises Sapheon in its Acquisition by Covidien
Kaye Scholer Corporate Partner Diane Holt Frankle advised Sapheon, Inc., a privately-held developer of venous disease treatments, in its acquisition by Covidien plc. Financial terms of the transaction were not disclosed.
Based in Morrisville, NC, Sapheon develops and manufactures the VenaSeal® system, which uses a specially formulated medical adhesive to close the great saphenous vein in patients with varicose veins and chronic venous insufficiency (CVI). According to Brian Verrier, president, Peripheral Vascular, Covidien, “Sapheon will significantly enhance Covidien’s global Peripheral Vascular business by providing additional treatment options for physicians and their patients who suffer from CVI.”
Frankle, who is based in the firm’s Silicon Valley office, represents publicly traded and privately held companies engaged in a wide variety of US and cross-border mergers, acquisitions, strategic alliances and joint ventures, with a particular focus on the technology and life sciences sectors. Simon Inman and Adam Rosenblum of Carle Mackie Power & Ross served as co-counsel on this transaction.