Global law firm Reed Smith announced that a cross-office private equity team led by Mark Pedretti, global chair of Reed Smith’s private equity group, and partner Seth Merl advised Bioventus Inc., a global leader in innovations for active healing, on the sale of the Advanced Rehabilitation business of its subsidiary, Bioness, to Accelmed Partners. The transaction includes a total cash consideration of $45 million, including $25 million in cash at close and up to $20 million in potential post-closing earn-out payments.
Accelmed is a U.S.-based private equity firm focused on acquiring and investing in U.S. commercial stage, lower middle market HealthTech companies.
In addition to Pedretti and Merl, both of whom are based in New York, the team also included the following lawyers:
- New York: corporate partners Angelo Ciavarella, Peter Emmi, Michael S. Lee and Ian Sherwin; labor and employment partner Mark Goldstein; energy and natural resources partner Peter Trimarchi; corporate counsel Ari Byk; corporate associates Russell Schneider, Luke Meyerson, Sarah Lee, Marisa Rametta and Batool Banker; and labor and employment associate Alexandra Manfredi
- Brussels: life sciences partner Wim Vandenberghe
- Chicago: insurance recovery partner John Vishneski
- Orange County: real estate partner Daniel Hagedorn and associate Michaela Mapes
- Pittsburgh: corporate partner Allison Sizemore and associate Simone Senior
- Washington D.C.: regulatory and investigations partner Kendra Perkins Norwood and associate Mitch Bailey
Original source can be found here.