Halyard Health, Inc., a leading global medical technology company, divested its Surgical & Infection Prevention (S&IP) business, including its Indian subsidiary, to Owens & Minor, Inc. for US$710 million. The divestiture allowed Halyard to sharpen its focus on its core business in the medical devices segment while Owens & Minor gained a foothold in the global healthcare supplies market. Majmudar & Partners provided legal counsel for the Indian law aspects of the transaction, navigating the complexities of the cross-border acquisition process and sectoral regulations.
Facilitating the Transaction
Majmudar & Partners acted as Indian legal advisors for the transaction, guiding the process through multiple layers of legal and regulatory compliance. The firm’s role included:
- Indian Regulatory Compliance: Ensured compliance with India’s corporate, tax, and foreign direct investment (FDI) regulations to facilitate a seamless transfer of the Indian subsidiary.
- Due Diligence: Conducted thorough due diligence on the Indian subsidiary’s business operations, identifying potential legal risks and resolving them before closing the deal.
- Employee and Labor Law Compliance: Navigated India’s labor laws, ensuring a smooth transition for employees from Halyard’s Indian subsidiary to Owens & Minor.
- Contractual Negotiations: Drafted and negotiated key transaction documents for the Indian subsidiary, safeguarding Halyard’s interests while meeting Indian legal standards.
The sale of Halyard Health’s S&IP business to Owens & Minor was a strategically significant transaction for both companies. While Halyard redirected its focus to its core medical devices, Owens & Minor expanded its footprint in the global healthcare supplies sector, positioning itself as a stronger player in the medical products market. Majmudar & Partners ensured that the Indian subsidiary’s transition complied with regulatory requirements, facilitating the successful completion of the deal.
With an extensive track record in managing complex cross-border acquisitions, Majmudar & Partners has consistently delivered expert legal counsel. Contact us to learn how we can assist in navigating the intricate legal frameworks involved in M&A transactions.