A medical device company approached Summit about forming a joint venture to secure financing to acquire additional intellectual property rights.
Industry: Medical Devices
Subject: A medical device company seeking to add to its intellectual property and distribution rights.
Circumstance: This medical device company approached Summit about forming a joint venture to secure financing to acquire additional intellectual property rights out of a pending bankruptcy. This would allow the medical device company to control all of the necessary requirements to manufacture and distribute the underlying product.
Solution: Summit worked extensively with its partner to devise an acquisition strategy for the joint venture entity that resulted in a successful purchase of the intellectual property rights out of bankruptcy.
Outcome: Following the successful acquisition, Summit has worked with management on a strategy that has enabled the product to reach more patients and allow for better patient treatment. Today, this medical device is available worldwide and is considered the leader in wound/protector devices.