Latham & Watkins Advises Nevro Corp. on Acquisition of Vyrsa™ Technologies and Secured Financing Deal from Braidwell
Nevro Corp. (NYSE: NVRO), a global medical device company that is delivering comprehensive, life-changing solutions for the treatment of chronic pain, has announced it has acquired Vyrsa Technologies, a privately held medical technology company focused on a minimally invasive treatment option for patients suffering from chronic sacroiliac joint pain. Under the terms of the transaction, Nevro paid US$40 million at closing and agreed to pay up to an additional US$35 million in cash or stock tied to achievement of certain development and sales milestones. In addition, Nevro Corp. has closed a 6-year, US$200 million term loan credit facility from funds managed by Braidwell LP.
Latham and Watkins LLP advised Nevro Corp. on both the secured financing and the acquisition. On the acquisition, a corporate deal team was led by partner Daniel Rees, with associates Abby Timmons and Erik Jensen. Advice was also provided on healthcare matters by partner Betty Pang, with associate Leia Gu; on data privacy matters by partner Heather Deixler, with associate Mitch Bennett; on regulatory matters by counsel Chad Jennings, with associate Trevor Thompson; on IP matters by counsel Arielle Singh, with associate Fiona Gillan; on benefits and compensation matters with partner James Metz, with associate Nimra Syed; and on tax matters by partner Eric Cho, with associate Kathryn Harrington.
On the secured financing, a transactional team was led by partners Elizabeth Oh and Haim Zaltzman, with associates Benjamin Gelfand and Tyler Davis. Advice was also provided on UK debt matters by partner Carry Chen and associate Mark Walker; on corporate matters by partners Daniel Rees and Phillip Stoup, with associate Abby Timmons and Erik Jensen; on IP matters by counsel Arielle Singh, and associate Fiona Gillan; on benefits matters by partner James Metz, with associate Nimra Syed; on tax matters by partner Eric Cho, with associate Kathryn Harrington; on securities regulatory (1940 Act) matters by partner Laura Ferrell, with counsel Joel Cavanaugh; on security matters by counsel Emily Yu; on converts matters by partner Eric Rice, with associates Ryan Gold and Andrew Bentz; and on healthcare / regulatory matters by partners Heather Deixler, Betty Pang, and Elizabeth Richards.