Overview of Project
Our client is a public medical technology manufacturer that had abandoned its core business but had significant cash reserves from prior legal settlements and tax credits. The company wanted to make a strategic acquisition of a product-rich company that would provide for future growth. Manchester acted as the client’s buy-side investment banker, and identified, structured, negotiated, and closed the deal with an ideal candidate. As a result, our client now owns a subsidiary company with strong medical technology in a growing market.

The Challenge
Our client had plenty of cash, but no product to sell or provide for future revenue growth. It needed to make an acquisition of a company in its market that had strong patented technology.

The Engagement
Manchester Companies was engaged by our client to act as its buy-side investment banker responsible for identifying potential candidates, structuring and negotiating a deal, and closing the transaction.

The Solution
We identified another medical technology company as an ideal candidate for our client's acquisition. The candidate had recently emerged from a financial and operational crisis and needed cash, but had leading-edge patented hardware and software and a strong history in the cardiorespiratory market. Our client acquired this candidate, which became a wholly owned subsidiary of our client.

The Impact
As a result of Manchester’s engagement, our client has a subsidiary providing innovative products and services for the cardiorespiratory and health and fitness markets, and the company’s revenues are growing once again.