Reed Smith Reps Essex In $118M Biologics Deal

Law360, New York (January 4, 2012, 1:15 PM EST) -- Texas private equity firm Essex Woodlands is spending $118 million to take control of the biologics and clinical therapies division of British medical technology giant Smith & Nephew PLC in a deal to create a $231 million North Carolina joint venture, the parties said Wednesday.

The new joint venture, called Bioventus LLC, will continue the Smith & Nephew division's efforts to make drugs and therapies derived from living organisms. It will be 51 percent-owned by the Houston-based private equity firm, 49 percent-owned by the medical tech...
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