Osborne Clarke acted for Spanish healthcare company Grifols on the €1.7 billion acquisition of Hologic’s blood screening business.
Grifols was also advised by US law firm Proskauer Rose on the deal. Hologic instructed Gibson Dunn & Crutcher, according to Mergermarket.
Under the agreement, Grifols will receive a fully paid-up license to use Hologic’s intellectual property in the blood screening field. Approximately 175 people, mainly in operations and research and development, will transfer to Grifols, along with Hologic’s blood screening manufacturing facility in Rancho Bernardo, California.
For the financial year ending in 2017, all of Hologic’s share of its blood screening business was forecast to contribute approximately $240 million of revenue, GAAP diluted earnings per share (EPS) of $0.19, and non-GAAP diluted EPS of $0.34.
The transaction is expected to be completed in the first quarter of this year, a Hologic statement said.