Medartis increases stake in KeriMedical

20 March 2023

Medartis (SIX: MED), a Basel-based orthopedic company specializing in head and extremity surgery, recently signed an agreement with the private founders of KeriMedical, a Geneva-based private company specializing in the development and manufacture of implants for hand and wrist surgery, to acquire an additional 18% stake for a purchase price of approximately CHF 18m.

This increase of the stake to 47% is a further step in Medartis' strategy to become a one-stop-shop for hand and wrist solutions and to increase its presence in joint replacement for extremities. It will allow both companies to not only leverage their relationships with leading professionals, but also to benefit from each other's expertise in development, regulatory affairs and innovation. The founding shareholders will retain control of KeriMedical SA under this agreement. The additional share acquisition is expected to be completed by the end of the first quarter or early in the second quarter and will be paid from existing cash on hand, existing credit facilities and/or additional financing options.

The flagship product among KeriMedical's products is TOUCH®, a joint replacement for the treatment of rhizarthrosis. It is an important growth driver for the company, as confirmed by the response from customers in Germany, Austria and the UK. According to recent studies, the thumb joint is one of the areas most frequently affected by osteoarthritis.

VISCHER advised Medartis on legal and tax issues related to the acquisition of an additional stake. The VISCHER team includes Christian Wyss (Partner, Corporate/M&A), Pauline Pfirter (Senior Associate, Corporate/M&A), Luzius Zumstein (Managing Associate, Corporate/M&A), Adrian Briner (Managing Associate, Tax) and Oerjan Wickart (Junior Associate, Corporate/M&A).