International law firm Simmons & Simmons has advised medical device company Balt on the creation of a joint venture with its former distributor in Italy, ab medica SpA. The joint venture is named Balt Italy SRL, of which Balt will be a majority shareholder.
Balt is the first medical device company in the world to develop devices specifically for neurovascular intervention. ab medica SpA is Italy's leading company in the production and distribution of medical technologies as well as a reference point for robotic surgery and technological innovation in healthcare. The joint venture, Balt Italy SRL, will be Balt's ninth subsidiary.
The Simmons team comprised of cross border expertise and was jointly led by partners Simonetta Giordano of the firm's Paris office and Edoardo Tedeschi out of Milan.
Commenting on the deal, Simonetta said: "We are proud to have advised Balt throughout this ambitious venture."
Edoardo added: "The project mobilised close co-operation between Simmons' Paris and Milan offices in order to advise on complex issues, such as the transfer of government contracts as part of the creation of a joint-venture. This level of collaboration allowed us to take advantage of our international innovation to deliver for Balt.".
