Clifford Chance has advised The Paragon Fund III GmbH & Co. geschlossene Investment KG on the agreed sale of Primed Group to Inflexion. Completion remains subject to customary closing conditions.
Primed Group is headquartered in Halberstadt, Germany, and develops, manufactures, sterilises and distributes medical devices used in tracheostomy and laryngectomy, wound drainage, thoracic surgery and stool management. The company also provides sterilisation services. Clifford Chance’s announcement did not disclose the financial terms.
The mandate follows the firm’s advice to Paragon on its investment in Primed Group in 2023. That transaction completed at the end of October 2023. The latest instruction covers Paragon’s exit from the business and involved private equity, healthcare, regulatory, tax, employment, compliance, intellectual property, antitrust and corporate lawyers in Germany and the Czech Republic.
Partners Mark Aschenbrenner and Volkmar Bruckner led the Clifford Chance team from Munich. Torsten Syrbe and Marlene Kießling advised on healthcare matters, while Thomas Voland and Laura-Isabell Dietz handled regulatory work. Dominik Engl advised on tax, Christopher Fischer and Anna-Celine Brill covered employment, and Gerson Raiser and Carla Schön worked on compliance.
Nicolas Hohn-Hein advised on intellectual property, with Dimitri Slobodenjuk and Arne Gayk covering antitrust. The Prague corporate team included Michal Jašek, Veronika Kinclová and Natalie Kurkova. Christian Ritschka of Austrian firm Dorda advised on Austrian law.
The team covered the separate legal issues arising from the sale of a medical-device business operating across manufacturing, distribution and sterilisation services. Its work extended beyond the principal sale documentation to healthcare regulation, employment, tax, intellectual property, compliance and antitrust.
Where a target combines product development with sterilisation services, the sale agreement may need to address different revenue streams and operational dependencies. Counsel should base those provisions on the diligence record rather than generic assumptions about the sector.
On similar private equity exits, counsel must confirm which group company holds each contract, registration and operating responsibility. That allocation shapes the warranties and disclosures and exposes any issues that need to be resolved before completion.
Signing and completion may also require different teams to work to the same timetable without treating matters still under review as settled requirements. Clear responsibility for each workstream can reduce delays when documents, approvals or information are needed from several jurisdictions. Law firms advising on comparable healthcare transactions should keep the acquisition documents, due diligence findings and specialist advice consistent until the deal completes.