Assisted with obtaining FDA approval of pharmaceuticals and medical devices for Medefil, Inc.
Represented a leading provider of hemodialysis equipment in an action brought in the Delaware Superior Court against a service provider, asserting claims that the service provider breached a multi-million dollar supply agreement by failing to purchase the required number of hemodialysis machines and associated supplies. A motion for summary judgment was brought and prevailed for the plaintiff, which is rare, whereby the court ruled as a matter of law and without need of trial that the service provider had breached the agreement and that its affirmative defenses of impossibility and frustration of purpose also failed as a matter of law. Following that determination, the case settled on confidential terms favorable to the client. This matter was handled prior to joining Foley.
Counseled Hanger Orthopedic Group, Inc. (Hanger), through its subsidiary Hanger Prosthetics & Orthotics, Inc., in the acquisition of all of the outstanding common stock of Specialized Prosthetic and Orthotic Technologies, Inc., a Utah-based corporation solely owned by The James W. Liston Living Trust. The purchase price — which was subject to adjustment based on the seller’s inventory and accounts receivable immediately prior to closing — included an unsecured, subordinated promissory note that was guaranteed by Hanger. The transaction also provided for certain earn-out payments based on targeted amounts for net revenue attributable to the operation of the orthotics and prosthetics business at the seller’s Murray, Utah facility or any additional locations that may be opened by Hanger Prosthetics & Orthotics, Inc. and operational in Utah during the two-year period following closing. Also assisted Hanger in negotiating employment and noncompetition agreements in connection with the transaction.