BLP advises MDY Healthcare on acquisition of quoted healthcare investments from 3i

Berwin Leighton Paisner (BLP) acted for MDY Healthcare plc, the strategic investor in healthcare companies, on its acquisition from 3i Group plc of stakes in UK listed ProStrakan Group plc and SWX listed Santhera Pharmaceuticals Holding AG.

ProStrakan is a rapidly growing specialty pharmaceutical company engaged in the development and commercialisation of prescription medicines for the treatment of unmet therapeutic needs in major markets.  Santhera is a Swiss specialty pharmaceuticals company focusing on the discovery, development and marketing of small molecule pharmaceutical products for the treatment of orphan neuromuscular diseases.

The consideration of £3m payable to 3i is being satisfied by a combination of cash, MDY shares and unsecured loan notes.

3i, as an existing substantial shareholder in MDY, is a related party of MDY.  Brewin Dolphin Limited, as MDY’s Nominated Adviser, advised on the related party aspects of the transaction.

Corporate finance partner, Alex Latner led the BLP team, assisted by Richard Werner and Emma Nicholls.

Commenting on the deal, Alex said: “We have now acted for the company for over a decade and are delighted to have acted on this transaction, which has enabled MDY to broaden its quoted investment portfolio and consolidate its position as a strategic investor in healthcare companies.”

Travers Smith (Phil Cheveley) advised 3i.

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