Schoenherr’s Budapest office has assisted the US-based Waters Technologies Corporation in connection with its acquisition of certain assets of MediMass, a Hungarian medical R&D company.
The deal involves an intelligent surgical device called iKnife that is capable of analyzing cancerous and healthy tissues in real time during surgeries, and Waters Technologies acquired certain assets, extensive IP assets, contracts and employees related to its development. Waters Technologies said all the acquired assets relate to rapid evaporative ionization mass spectrometry, or REIMS, technology being developed for use in an intelligent knife which could be used to give real-time diagnostics in surgery. Terms of the deal were not disclosed.
Waters Technologies is based in Milford, Massachusetts. The company makes scientific equipment used for healthcare, environmental and other industries, and specializes in instruments for chromatography (separating complex chemical compounds into their elements) and mass spectrometry (the analysis of those elements to determine their molecular structure). "While showing promise across many applications, REIMS technology significantly strengthens Waters’ technology position within health sciences,” said Rohit Khanna, Waters Technologies' Vice President of Worldwide Marketing and Informatics, in a statement.
The Schoenherr team was led by Budapest-based Partner Sandor Haboczky, who was supported by Attorney-at-law Daniel Varga. Kinga Hetenyi, Managing Partner of the Budapest office provided employment related advice supported by Associate Aniko Nagy. The lead counsel of the purchaser was Wragge Lawrence Graham & Co. The seller was represented by Squire Patton Boggs and the Mihaly Matrai Law Firm.
