The international law firm Milbank LLP advised the shareholder of SOMATEX Medical Technologies GmbH, an entity held by a group of investors around Westlake Partners, on the sale of SOMATEX Group to Hologic., Inc. Completion of the sale took place at the end of 2020.
SOMATEX, headquartered in Berlin, Germany, specializes in the development and manufacturing of minimally invasive devices in the areas of tumor diagnostics, biopsy and interventional specialties. NASDAQ-listed Hologic, Inc. is an innovative medical technology company based in Marlborough, MA (U.S.A.), primarily focused on improving women’s health and well-being through early detection and treatment.
Westlake Partners is a Germany-based private equity boutique backed by a circle of global entrepreneurs and investors seeking active investments in small to medium-sized companies by providing growth capital as well as strategic and operative support.
The transaction supports Hologic’s strategy to provide a comprehensive suite of innovative solutions across the continuum of breast health care. Specifically, SOMATEX’s differentiated products will enable Hologic to strengthen and further expand its breast marker portfolio, which has been growing consistently. As a result of the acquisition, Hologic will also enhance its sales presence in Europe by expanding its direct channel in Germany and its network of regional and international distributor partners.
The SOMATEX product portfolio includes the Tumark family of tissue markers, which were distributed by Hologic in the U.S.A. as part of the parties’ strong partnership for several years already prior to the acquisition.
The Milbank team led by the partners Rolf Füger and Sebastian Heim advised the seller on the corporate/M&A and tax law aspects of the transaction.
The Milbank team, which advised the seller, was led by Rolf Füger (Tax) and Sebastian Heim (Corporate/M&A, both Munich) and included Alexander Rinne (Antitrust, Munich) as well as the associates Patrick Droese, Alexandra Schäfer, Johannes Wohlmuth (all Corporate/M&A, Munich), Moritz Philipp (Tax, Munich) and Alexander Zyrewitz (Antitrust, Munich).