Ropes & Gray Advises Radius Health in $890 Million Sale to Gurnet Point Capital and Patient Square Capital
Ropes & Gray advised Radius Health, Inc., a global biopharmaceutical company focused on addressing unmet medical needs in the areas of bone health, neurology orphan diseases, and oncology, in a take-private sale to Gurnet Point Capital LLC and Patient Square Capital in a transaction valued at approximately $890 million, including the assumption of debt and assuming full payment of a contingent value right. The transaction was announced on June 23.
Under the agreement, Gurnet Point Capital and Patient Square Capital will pay $10 cash per Radius share as well as a contingent value right of $1 per share that is payable should sales of Radius’ osteoporosis drug TYMLOS surpass a certain threshold by 2025.
The Ropes & Gray team was led by mergers & acquisitions associate Bryan Lowrance and partner Zach Blume and included life sciences partner Marc Rubenstein, litigation & enforcement partners Martin Crisp and Randy Bodner and employment & benefits partner Renata Ferrari.