Cooley Advises CardioMEMS in Equity Investment by St. Jude Medical, Inc.
Palo Alto, Calif. -- September 8, 2010 -- Cooley LLP advised longtime client CardioMEMS, Inc. in a transaction with St. Jude Medical, Inc. The terms include an $60 million equity investment by St. Jude Medical for an immediate 19 percent ownership in CardioMEMS. As part of the transaction, St. Jude has the option to acquire CardioMEMS for an additional payment of $375 million during the period that extends through the completion of certain commercialization milestones.
"This was a creatively structured transaction aimed at addressing both parties' current objectives," says Palo-Alto based Frank Rahmani, who led the Cooley team which included partner Buff Miller and associates Tali Sealman, Mehdi Khodadad and Mike Pisetsky and specialist Kris Tamashiro. Gibson Dunn & Crutcher represented St. Jude Medical.About Cooley LLP
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