SAN DIEGO (July 8, 2009) — McDermott Will & Emery LLP represented Chestnut Medical Technologies, Inc. in a merger with ev3, Inc., a publicly traded endovascular device company (Nasdaq:EVVV). Chestnut Medical Technologies, Inc. of California is focused on developing minimally invasive therapies for interventional neuroradiology.
Under the terms of the merger agreement, ev3 acquired 100 percent of the equity interests of Chestnut for a total consideration of $150 million. $75 million was paid upon closing, and up to an additional $75 million is to be paid upon the receipt of U.S. FDA premarket approval of Chestnut’s Pipeline device.
The McDermott team included partners Peter Townshend, George Colindres, John Ryan, James Hill, M.D., Joseph Adams and Mark Bilut. Additional assistance was provided by Monique Ho, Todd Hales, Stephen Miller, Dan Senecoff and Margaret Hermes.
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