Client: HemCon Medical Technologies Inc
IBI advised HemCon Medical Technologies Inc in relation to its Stg£20.8m public offer for Alltracel Pharmaceuticals plc, a company listed on the Alternative Investment Market of the London Stock Exchange. The offer was implemented by means of a Scheme of Arrangement and was completed in May 2008.
Alltracel has operations in a number of healthcare and application areas, including:
The offer represented a premium of approximately 54% over the closing share price prior to the commencement of the offer period and was approved by independent shareholders representing approximately 95% of shares voted.
HemCon is a fully-integrated medical device company based in Portland, Oregon in the US. IBI acted as sole financial adviser to HemCon. Given the relative geographic locations, the transaction illustrated the need for a strong local financial adviser to manage the purchaser through a complicated process in an effective and efficient manner to ensure a positive result.