CHIRMAX focuses on production of sterilised surgical sutures and their supply to hospitals and medical equipment distributors in the Czech Republic, Slovakia and several neighbouring countries. With its 60 employees, the company generated 2013 revenues amounting to ca. EUR 4 mil.
The sale of CHIRMAX, the Czech-based surgical sutures manufacturer, consummated on 23 December 2013 has further strengthened Deloitte’s genuine track record in the health and life sciences M&A advisory. Deloitte provided its expertize to the sole shareholder of CHIRMAX and facilitated her envisaged exit from the rather-remote business activities. The mandate was initiated jointly by Deloitte San Diego and Deloitte Prague offices, while the sell-side advisory services were provided by Prague Financial Advisory Services (FAS) and M&A Legal teams (M&A Legal).
Deloitte’s Role & Team
The FAS team provided the following sell-side advisory services: preparation of marketing documents, identification and communication with potential investors, organization of due diligence process, evaluation of offers received, negotiations with selected potential investors and other involved parties, assistance through the settlement and closing accounts phase; in a close cooperation with the M&A Legal team covering: preparation of the final transaction documentation, negotiations with selected potential investors and other involved parties and general legal advice.
Delotte’s Main Value Added Moments
Deloitte managed to attract a broad audience of potential investors, both international and domestic trade buyers as well as financial sponsors, thus creating a highly competitive process enabling minimizing risks on our client’s side, i.e. very favourable terms and conditions of the final transaction documentation.
Despite a prolonged period of final negotiations burdened by a request for a significant price discount by the selected prospective buyer, directly cooperating Corporate Finance and Legal teams managed to find creative solutions to all issues raised, which facilitated the final agreement between both parties.