The corporate team at Penningtons Manches Cooper has advised Echo Healthcare Inc, a US medtech company, on its strategic cross-border acquisition of Immersive Interactive.
Echo Healthcare is focused on providing the most realistic and immersive simulation products in the world, with the mission of saving lives and improving patient outcomes through simulation, education and innovation.
Immersive Interactive is a global leader and provider of interactive classrooms and virtual simulation spaces with over 350 installs in schools and training institutions. Its diverse client base and bespoke content will allow Echo Healthcare to expand its global customer footprint, distribution channels, and suite of products and services.
The deal provides an exit for Immersive’s institutional investor Mercia Asset Management plc. Mercia first backed the company in 2013, using funding from the North West Fund for Venture Capital and later via the Northern Powerhouse Investment Fund.
The corporate team advising Echo Healthcare was led by partner Will Axtell with support from associate Lindsay Chadwick. The wider team included commercial managing associate Edmund Forey, corporate senior associate Dominique Sabatini, tax partner Kathy Hills, tax associate Leonie Langley, real estate senior associate Giorgia Clements and employment associate Hannah Grayson.
Kevin King, CEO of Echo Healthcare said: “The undertaking of a cross border and multi country transaction was daunting to say the least. Working with Penningtons was an absolute pleasure, as they expertly helped us navigate uncharted territory and ultimately, with Herculean effort, got us across the finish line - a feat I can largely attribute to their expertise, patience, advice and leadership. I will be forever grateful!”
Will Axtell, corporate partner at Penningtons Manches Cooper said: “We have loved working with Echo Healthcare on their strategic, cross-border acquisition of Immersive Interactive. It will significantly enhance their position in the market and provides an exciting opportunity to redefine their international proposition.”
This is yet another deal that has seen Penningtons Manches Cooper’s corporate team provide specialist corporate advice to innovative technology companies in the US – having recently advised leading Venue Management Software provider Clubspeed LLC on their recent cross-border acquisition of UK based Resova Ltd.