Morrison & Foerster is advising the shareholders of Fiagon AG Medical Technologies, a leader in electromagnetic surgical navigation solutions, as sellers in the company’s €60 million cash acquisition by Intersect ENT, Inc. (Nasdaq: XENT), a company transforming care for patients with ear, nose, and throat (“ENT”) conditions.
Over the past 10 years, Fiagon, along with world-renowned physicians, changed the standard of ENT navigation with its easy-to-use electromagnetic-based technology. This unique technology is also currently used in oral and maxillofacial surgery, neurosurgery, and spine surgery outside of the U.S., mainly in Europe and Asia.
Under the terms of the transaction, Intersect ENT will make an initial €15 million payment at the time of the closing and €15 million annual payments for the subsequent three years. The transaction was announced on September 15, 2020 and is subject to customary closing conditions.
The MoFo deal team advising the shareholders of Fiagon is led by Berlin managing partner and head of the firm’s European Corporate and M&A groups Dirk Besse, together with Berlin partners Wolfgang Schoenig (Technology Transactions/Intellectual Property), Jens-Uwe Hinder (Tax), Hanno Timner (Employment/Labor), and Angela Kerek (Finance).