Davis Polk is advising J.P. Morgan Securities LLC as financial adviser to The Spectranetics Corporation in connection with its acquisition by a wholly owned subsidiary of Royal Philips, Philips Holding USA Inc., for approximately €1.9 billion, inclusive of cash and debt. The acquisition, which is expected to close in the third quarter of 2017, is subject to customary closing conditions, including certain regulatory clearances in the United States and in certain non-U.S. jurisdictions.
Spectranetics develops, manufactures, markets and distributes medical devices used in minimally invasive procedures within the cardiovascular system. Royal Philips is a health technology company focused on improving people’s health and enabling better outcomes across the health continuum from healthy living and prevention, to diagnosis, treatment and home care.
The Davis Polk corporate team includes partner Alan F. Denenberg and associate Max Brunner. All members of the Davis Polk team are based in the Northern California office.