Latham & Watkins Advises Baxter International in Acquisition of Cheetah Medical

September 15, 2019 |

1 min read

Baxter International Inc., a leading global medical products company, has entered into a definitive agreement to acquire Cheetah Medical, an Israel-based leading provider of non-invasive hemodynamic monitoring technologies with offices in Boston, Massachusetts as well as Tel Aviv, as detailed in the company press release.

Baxter International Inc. (NYSE:BAX), a leading global medical products company, has entered into a definitive agreement to acquire Cheetah Medical, an Israel-based leading provider of non-invasive hemodynamic monitoring technologies with offices in Boston, Massachusetts as well as Tel Aviv, as detailed in the company press release. The agreement demonstrates Baxter’s ongoing commitment to improving clinical outcomes with an established patient monitoring technology to better inform and guide clinicians’ treatment decisions. Cheetah Medical is a natural adjacency for Baxter, given Baxter’s longstanding leadership in infusion systems and intravenous (IV) solutions, breadth of knowledge in fluid management, and strong presence in critical care and IV therapy. The transaction consists of an upfront cash consideration of $190 million, with potential for an additional $40 million based on clinical and commercial milestones.

Latham & Watkins LLP represents Baxter International in the transaction with a Boston-based corporate deal team led by partner Hans Brigham with counsel Emily Taylor and associate Peter Prial, and with London partner Josh Kiernan and New York associate Gilad Zohari advising on certain matters. Advice was also provided on employee benefits and compensation matters by Los Angeles partner Michelle Carpenter with Chicago associate Daniel Gocek; on tax matters by San Francisco partner Grace Lee with associate Jessica Chen; on intellectual property matters by Boston partner Sarah Gagan; and on antitrust matters by Washington, D.C. partner Amanda Reeves with counsel Patrick English and Brussels associates Tomas Nilsson and Jonathan Akinyemi.