Sequent Medical Completes $380 Million Merger With Terumo Corporation

Stradling represented Sequent Medical, Inc. in its merger with a U.S. subsidiary of Terumo Corporation, a global medical device company. Under the terms of the deal, Terumo acquired Sequent in an all-cash transaction for $380 million ($280 million up front and up to an additional $100 million if certain milestones are achieved). The transaction closed on July 13, 2016.

Based in Aliso Viejo, Sequent develops next-generation interventional devices for treating cerebral aneurysms. Terumo reportedly commands a 16% market share in catheters used to treat cerebral aneurysms, making it the third-largest in the field. Terumo intends to merge Sequent and MicroVention, a California-based maker of coils that Terumo acquired in 2006, to strengthen its product development.