Olympus acquires Chile’s Sur Medical

The transaction implies the direct entry of multinational Olympus into the Chilean medical device distribution market.

Olympus was advised on the transaction in Chile by law firm Carey.

The advice involved a full due diligence, including the review of thousands of contracts with public and private entities, and the analysis of the implementation of a carve-out to separate different business lines and brands distributed by the target company, Carey said.

“Devising a viable carve-out and regulating the same in the share purchase agreement was particularly challenging given that Sur Medical conducts a substantial part of its business with public entities, resulting in significant regulatory hurdles to implement the carve out,” the law firm said.

Carey’s team advising Olympus was led by partners Guillermo Carey, Francisco Ugarte,  Ignacio Gillmore and Camilo Lledó, with associates Camila Suárez, Pablo Bauer, Isabel Cantillana and Agustín Figueroa.

Law firm Barros & Errázuriz acted as counsel to Sur Medical, with a team led by partner Lucas Marinovic, with counsel Daniela Peña and associates Daniela Tumani, Tomás Sotomayor and

Josefa Riquelme.

Olympus’ in-house counsel was Sean Nabi, assistant general counsel, and Vivian Bocchio, associate legal counsel.

Grant Thornton acted as financial advisor to Olympus Corporation of the Americas.