Milbank LLP has advised the global medical technology company Smith & Nephew plc on the acquisition of the orthopedic joint reconstruction business of Brainlab AG and on entering into a long-term exclusive R&D cooperation agreement.
The cooperation is intended to expand the company’s research and development activities, particularly in the areas of digital surgery and augmented reality. The strategic collaboration allows Smith & Nephew access to Brainlab technologies in areas such as cloud computing, tracking, robotics and machine learning, in return, Brainlaib will benefit from Smith & Nephew’s distribution network.
Smith & Nephew is a portfolio medical technology business with leadership positions in Orthopaedics, Advanced Wound Management and Sports Medicine. Smith & Nephew, headquartered in London, has more than 16,000 employees and a presence in more than 100 countries. Its annual sales in 2018 were $4.9 billion.
Brainlab, headquartered in Munich, develops, manufactures and markets software-driven medical technology, enabling access to advanced, less invasive patient treatments. Core products center on information-guided surgery, radiosurgery, precision radiation therapy, digital operating room integration, and information and knowledge exchange. Brainlab has more than 12,850 systems installed in over 100 countries and employs around 1,400 people in 18 offices worldwide.
The Milbank team led by Martin Erhardt (Picture) advised Smith & Nephew plc, and included Andrea Eggenstein (Corporate/M&A, Frankfurt), Laurence Jacobs (Technology, London), Alexander Rinne (Antitrust, Munich), Matthias Schell (Tax, Munich), Manan Shah (Compensation & Employee Benefits, New York), Dominik Waldvogel, Lucas Kleinschmitt, Johannes Wohlmuth (all Corporate/M&A, Munich), Alexander Zyrewitz (Antitrust, Munich), Faraaz Samadi and Chioma Benjamin (both Technology, London).
Involved fees earner: Chioma Benjamin – Milbank; Andrea Eggenstein – Milbank; Martin Erhardt – Milbank; Laurence Jacobs – Milbank; Lucas Kleinschmitt – Milbank; Alexander Rinne – Milbank; Faraaz Samadi – Milbank; Matthias Schell – Milbank; Manan Shah – Milbank; Dominik Waldvogel – Milbank; Johannes Wohlmuth – Milbank; Alexander Zyrewitz – Milbank;
Law Firms: Milbank;
Clients: Smith & Nephew;