DLA Piper has advised Synergy Health plc (“Synergy”), a leading global supplier of outsourced services to healthcare providers and other customers concerned with health management, on its recommended combination with STERIS Corporation (“STERIS”), a major provider of infection prevention and other procedural products and services focussed primarily on healthcare, pharmaceutical and research markets. The transaction, which was announced this morning, values Synergy at $1.9 billion, and the combined group at $5.2 billion.
The transaction will create a global leader in infection prevention and sterilization, better positioned to provide comprehensive solutions to medical device companies, pharma companies and hospitals around the world.
The transaction will involve a new UK holding company, New STERIS, becoming the holding company for both STERIS and Synergy. New STERIS will be listed on the New York Stock Exchange.
The DLA Piper transaction team was led by corporate partner John Campion and supported by a large cross-border team including corporate partner Jonathan Klein in New York, and senior associates Louise Barber, Rob Newman and Nickie Cheney.
John Campion commented: “We are very pleased to have advised Synergy, a longstanding and valued client of the firm, on such a key transaction.”
Source: news.dlapiper.com
