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Divestment

of a cardiovascular business

Brief

We were approached by a private European cardiovascular company with a good product portfolio that wished to grow its business by developing the products for use in the US and enhancing its sales and marketing, and clinical strength. The company owners felt that they did not have the appetite for further major investments and, to fulfil the opportunity of its core portfolio, engaged Cambridge Consultants to develop an exit strategy.

Approach

We developed, with the client, an Information Memorandum (IM) and presentations that were sent to key corporate target companies once they had agreed a level of interest in the opportunity. The IM developed was a comprehensive document based on intensive research on and in our client’s business and technologies. Cambridge Consultants facilitated the non-disclosure administration and tracking of corporate contacts and also represented all aspects of the initial discussions with our client.

Companies were canvassed by us by telephone prior to face-to-face contact at meetings and conferences.

We administered the development of a data-room and ‘Letter-of-Intent’ based access to the data-room. Subsequently we were engaged in all discussions with potential acquirers.

Benefit

Our client required the benefits of an impartial organisation to represent its divestment strategy and mitigate against disruption of other personnel within the company from their day to day work. The key element of its engagement of Cambridge Consultants was that we understood very well the product and market areas served, and could therefore represent the science, technology and market in a compelling way with other professional organisations and people. Additionally we had our own views and understanding of the compelling nature of the portfolio, particularly with regard to the opportunities of such a portfolio in the US.