Wallaby Medical Acquires German Neurovascular Company Phenox GmbH

April 21, 2022—Wallaby Medical, a company focused on developing and commercializing neurovascular interventional products for treating stroke, announced that it has acquired Germany-based Phenox GmbH, including Phenox’s Femtos GmbH.

The transaction, which has received all necessary regulatory approvals and has been completed, was closed for a total consideration of approximately €500 million, including milestone payments. Wallaby funded the acquisition of Phenox from the proceeds of its Series D financing round supported by leading health care investors.

The two companies have been strategic partners since 2019. Phenox has been the exclusive distributor for Wallaby’s Avenir coil system in the United States and European markets, as well as for Wallaby’s Esperance aspiration catheters in the United States.

According to Wallaby Medical, the acquisition will enable the combined company to become a global leader in providing a wide range of neurovascular technologies and solutions around the world, including in the United States, China, Europe, Japan, and other international markets.

Michael Alper, CEO of Wallaby, will become CEO of the combined organization. Professor Hermann Monstadt, Dr-Ing, Founder of Phenox, will assume the role of Managing Director of Phenox. All current Phenox product brands will be retained, advised the company.

Wallaby, which has main offices in Laguna Hills, California, and Shanghai, China, achieves a significant portion of sales in the United States and other major developed markets. Phenox, which is headquartered in Bochum, Germany, has a portfolio of neurovascular devices to treat ischemic and hemorrhagic strokes that are sold in more than 45 countries.

Phenox’s Femtos develops and manufactures next-generation neurovascular devices for treating stroke, with special expertise in femtosecond laser technology for the manufacturing of stents and other implantable devices. Femtos serves as an incubator for next-generation medical technologies and has already developed two CE Mark–approved products.