On April 21, 2022, Wallaby Medical, a global innovative medical technology company focused on developing and commercializing neurovascular interventional products for treating stroke, announced that it has acquired phenox GmbH, including phenox's femtos GmbH (femtos), (together, "phenox"), a Germany-based global innovation and technology leader in the neurovascular space, for a total consideration of approximately EUR 500 million including milestone payments. The transaction has received all necessary regulatory approvals and has been completed.

The acquisition is one of the largest cross-border transactions in the medical device industry globally in recent years and is driven by strong growth opportunities in both product portfolio and geographic coverage. It will enable the combined company to become a global leader in providing a wide range of neurovascular technologies and solutions to its customers and patients around the world, including in the U.S., China, Europe, Japan, and other international markets.

Wallaby funded the acquisition of phenox from the proceeds of its Series D financing round supported by leading healthcare investors. 

Wilson Sonsini Goodrich & Rosati acted as international counsel to Wallaby in the transaction. The Wilson Sonsini team includes Weiheng Chen, Xuchao Dong, Chun Teng, and Yiwen Feng.

For more information, please Wallaby’s press release.