Firm Advises ev3 in $2.6 Billion Acquisition By Covidien

June 1, 2010

Ev3 is currently 24% owned by Warburg Pincus Equity Partners LP.

On June 1, 2010 Willkie advised ev3, a maker of stents and other medical devices, in an acquisition by Covidien under which Covidien will acquire all of the outstanding shares of ev3 Inc. for $22.50 per share in cash, for a total of $2.6 billion, net of cash acquired. By buying ev3, Covidien will move into a higher-margin, faster-growing market for medical devices. Since it’s founding in 2000, ev3 has been dedicated to developing breakthrough and clinically proven technologies for the endovascular treatment of peripheral vascular and neurovascular diseases. Willkie has represented ev3 since its founding on a number of acquisitions and corporate governance matters. Ev3 is currently 24% owned by Warburg Pincus Equity Partners LP. Willkie attorneys on this transaction included Steven Gartner, Adam Turteltaub, Jonathan Konoff, David Tayar, Sean Ewen and Andrew Lloyd.