Alston & Bird client Halyard Health, Inc., has entered into an agreement to acquire private equity-backed Corpak MedSystems in an all-cash transaction totaling $174 million.
Corpak, a portfolio company of Linden Capital Partners, develops, manufactures and markets enteral access solutions. The company generated about $54 million in sales during fiscal 2015.
Halyard Health is a publicly traded company headquartered in metropolitan Atlanta that spun off from Kimberly-Clark Corp. in 2014 as an independent health care organization. Alston & Bird also advised Halyard Health in that transaction.
The Corpak acquisition is expected to close in the second quarter of 2016, subject to approval under the Hart-Scott-Rodino Antitrust Improvements Act and other customary closing conditions.
Advising Halyard Health is an Alston & Bird team led by partners Steven Pottle, Sarah Ernst, Julie Tibbets, Dawnmarie Matlock, senior associates Russell Hilton and Brendan Carroll and associate Andrew Belisle (Health Care); partner Matthew Kent (Antitrust); partners Blake MacKay and Mike Stevens, associate Meredith Gage (Employee Benefits & Executive Compensation); partner Jonathan Wells (Environment, Land Use & Natural Resources); partner Jitty Malik and associate Joseph Janusz (IP Litigation); partner Brett Coburn and senior associate Isabella Lee (Labor & Employment); partner Scott Elder (Products Liability); partners Sam Kaywood, Brian Harvel (Federal & International Tax) and Clark Calhoun (State & Local Tax).