ZOLL Medical’s $538 Million Acquisition of Itamar Medical

Latham & Watkins and Goldfarb Seligman & Co. represented Itamar Medical in the transaction. Cooley and Gornitzky & Co. advised ZOLL Medical.

Itamar™ Medical Ltd. (Nasdaq and TASE: ITMR), a medical device and digital health company focused on the integration of sleep apnea diagnosis into the cardiac patient care pathway, and ZOLL® Medical Corporation, an Asahi Kasei company that manufactures medical devices and related software solutions, have announced that the two companies signed a definitive agreement under which ZOLL Medical will acquire all outstanding ordinary shares of Itamar Medical for a total value of approximately US$538 million.

Goldman Sachs & Co. LLC acted as financial advisor to ZOLL Medical. Piper Sandler & Co. acted as financial advisor to Itamar Medical.

Latham & Watkins represented Itamar Medical in the transaction with a corporate deal team led by Boston partner Hans Brigham (Picture) and Chicago partner Max Schleusener, with associate Ariel Cho. Advice was also provided on capital markets matters by New York partner Nathan Ajiashvili, London partner Joshua Kiernan, and New York counsel Michael Rosenberg; on FDA regulatory matters by Washington, D.C. partner Elizabeth Richards and Bay Area counsel Betty Pang; on intellectual property matters by Bay Area partner Judith Hasko, with associate Jiqiang Lin; on tax matters by New York partner Elena Romanova, with associate Shruti Hazra; on benefits and compensation matters by Washington, D.C. partner Matthew Conway, with associate Ashlie Lawton; on antitrust matters by Brussels partner Hector Armengod, Washington, D.C. partner Ian Conner, and Washington, D.C. counsel Patrick English; on CFIUS matters by Washington, D.C. partner Damara Chambers; and on data privacy and security matters by Bay Area counsel Heather Deixler.

The Cooley team was led by Michal Berkner, Lester Fagen, Michael McGrail, Jarrett Burks and Vlad Herta. Additional assistance was provided by Howard Morse, Philip Mitchell, Dan Herrmann, Claire Metcalfe, Ehijele E. Olumese, Wyatt Kernell, Shuang CI, Elisabethann Wright, Tom Connors, Akiyah Francis, Stella Sarma, Jennifer Shanley, Rubin Waranch, Leo Spicer-Phelps, Mattie Wheeler, Michael Fernando, David Navetta, Bobby Ghajar, Geoffrey Spolyar, Mor Agam, Joshua Friedman, Chris Kimball, Rebecca Ross, John Paul Oleksiuk, Bronwyn L. Roberts, Natasha Leskovsek, Jill Simon, Sharon Connaughton and Barbara Borden.

The Gornitzky team was by partners Chaim Friedland and Ari Fried, together with senior associates Nir Knoll, and associates Amit Ron, Desiree Reichman, Josh Kersner and Danielle Frenkel Breiner. They were supported by Partner Dr. Assaf Prussak and Senior Associate Nir Moses (Tax), Partner Avner Finkelshtein and associate Lior Frank (Antitrust), Partner Dr. Ziv Rotenberg and associate Anat Zehavi (IP), associates Lee Alter Kizis and Keren Ovadia (Employment), Partner Assaf Harel and associate Rebecca Genis (Data Protection and Privacy) and Partner Hila Shimon and associate May Galanti (Regulatory).

Involved fees earner: Mor Agam – Cooley LLP; Michal Berkner – Cooley LLP; Barbara Borden – Cooley LLP; Jarrett Burks – Cooley LLP; Shuang Ci – Cooley LLP; Sharon Connaughton – Cooley LLP; Thomas Connors – Cooley LLP; Lester Fagen – Cooley LLP; Michael Fernando – Cooley LLP; Akiyah Francis – Cooley LLP; Joshua Friedman – Cooley LLP; Bobby Ghajar – Cooley LLP; Daniel Herrmann – Cooley LLP; Vlad Herta – Cooley LLP; Wyatt Kernell – Cooley LLP; Christopher Kimball – Cooley LLP; Natasha Leskovsek – Cooley LLP; Michael McGrail – Cooley LLP; Claire Metcalfe – Cooley LLP; Philip Mitchell – Cooley LLP; Howard Morse – Cooley LLP; David Navetta – Cooley LLP; John Paul Oleksiuk – Cooley LLP; Ehijele Olumese – Cooley LLP; Bronwyn Roberts – Cooley LLP; Rebecca Ross – Cooley LLP; Stella Sarma – Cooley LLP; Jennifer Shanley – Cooley LLP; Leo Spicer-Phelps – Cooley LLP; Geoffrey Spolyar – Cooley LLP; Rubin Waranch – Cooley LLP; Mattie Wheeler – Cooley LLP; Elisabethann Wright – Cooley LLP; Lee Alter Kizis – Gornitzky & Co.; Danielle Frenkel Breiner – Gornitzky & Co.; Avner Finkelshtein – Gornitzky & Co.; Lior Frank – Gornitzky & Co.; Ari Fried – Gornitzky & Co.; Chaim Friedland – Gornitzky & Co.; May Galanti – Gornitzky & Co.; Rebecca Genis – Gornitzky & Co.; Assaf Harel – Gornitzky & Co.; Josh Kersner – Gornitzky & Co.; Nir Knoll – Gornitzky & Co.; Nir Moses – Gornitzky & Co.; Keren Ovadia – Gornitzky & Co.; Assaf Prussak – Gornitzky & Co.; Desiree Reichman – Gornitzky & Co.; Amit Ron – Gornitzky & Co.; Ziv Rotenberg – Gornitzky & Co.; Hila Shimon – Gornitzky & Co.; Anat Zehavi – Gornitzky & Co.; Nathan Ajiashvili – Latham & Watkins; Héctor Armengod – Latham & Watkins; Johan Brigham – Latham & Watkins; Damara Chambers – Latham & Watkins; Young Woo Cho – Latham & Watkins; Ian Conner – Latham & Watkins; Matthew Conway – Latham & Watkins; Heather Deixler – Latham & Watkins; Patrick English – Latham & Watkins; Judith Hasko – Latham & Watkins; Shruti Hazra – Latham & Watkins; Joshua Kiernan – Latham & Watkins; Ashlie Lawton – Latham & Watkins; Jiqiang Lin – Latham & Watkins; Betty Pang – Latham & Watkins; Elizabeth Richards – Latham & Watkins; Elena Romanova – Latham & Watkins; Michael Rosenberg – Latham & Watkins; Max Schleusener – Latham & Watkins;

Law Firms: Cooley LLP; Gornitzky & Co.; Latham & Watkins;

Clients: Itamar Medical; ZOLL Medical Corporation;