Homburger advises AMF Medical on its sale to Tandem Diabetes Care
Tandem Diabetes Care, a global insulin delivery and diabetes technology company, has announced that it has entered into a definitive agreement to acquire AMF Medical, the privately held Swiss developer of the Sigi™ Patch Pump, an insulin delivery solution like a patch pump for automated insulin delivery.
With this deal, Tandem, the San Diego-based company is joining forces with another maker of insulin pumps to instantly double its diabetes technology offerings.
The acquisition deal comes shortly after Tandem made a strategic investment of CHF 8 million in AMF during the third quarter of this year. The consideration includes this previous strategic investment, an upfront cash payment of CHF 62.4 m, and additional contingent earnout payments of up to CHF 129.6 m, in aggregate, payable upon the achievement of certain milestones. The transaction, with a total deal value out to CHF 200 million, is subject to the satisfaction of customary closing conditions and is expected to close in January 2023.
Homburger, who also advised AMF Medical on its previous financing rounds, acts as transaction counsel to the company and its shareholders. The team comprises partner Andreas Müller, associate Margrit Marti and Léonard Aeschlimann Perales (all corporate/ m&a; healthcare/life sciences and pictured in order), Luca Dal Molin and Joel Fink (both IP/IT; healthcare/life sciences), Stefan Oesterhelt, Kevin Müller and Philippe Weber (all tax), Richard Stäuber and Allegra Arnold (both competition; healthcare/life sciences), and Marc Bircher and Sebastian Wyler (both employment and executive compensation).