Milbank advised HG Darco Group LLC on the sale of hg medical GmbH, a manufacturer of implants for orthopedic surgery, to Nord Holding. The transaction includes the two companies hg medical GmbH in Germany and hg medical USA LLC in the United States. Founder and CEO Johannes Hagenmeyer will remain in his position and retain a stake in the company. COO Craig Bluett will be appointed as additional managing director.
The HG Darco Group is a leading global supplier of orthopedic aids and shoes for post-operative care with sites in Europe, the USA, the United Kingdom, India and China. Hg medical is a contract manufacturer for technically demanding and complex orthopedic implants, supporting in particular large medical technology companies in the technical implementation of product innovations, development services and individual customer solutions. The company currently employs around 130 people at its sites in Raisting, Bavaria and Huntington, West Virigina (USA). The parties have agreed not to disclose the purchase price.
A Milbank team, which advised HG Darco Group LLC on the corporate, tax and financial law aspects of the transaction, included Martin Erhardt (lead, Corporate/M&A, Munich); Thomas Kleinheisterkamp (Tax, Munich); Nicholas Smith (Technology, Washington, DC), Johannes Wohlmuth, Johannes Rogge-Balleer, Christina Beck (all Corporate/M&A, Munich); Dr. Arne Hammerich (Tax, Munich); Gerrit Merkel, Sebastian Trompler (both Finance, Frankfurt) and Kelsey Bishop (Real Estate, New York).