Stout announced today that its client, CEFALY Technology, has been acquired by DW Healthcare Partners (DWHP), a healthcare private equity firm based in Toronto. Stout served as exclusive financial advisor to CEFALY in connection with this transaction.
CEFALY, founded in 2004 and headquartered in Liège, Belgium, with operations in the U.S., is a world-leading manufacturer and distributor of proprietary, patent-protected neurostimulation medical devices under the CEFALY name for the treatment of migraine headaches. These products are non-invasive and self-applied by the patient to deliver electrical impulses to the trigeminal nerve, which is a superhighway to the center of the brain (central nervous system). The device is the only one of its kind that is approved by the Food and Drug Administration (FDA) and CE Mark and in active commercial use. The company’s clinical data has established the CEFALY devices among the most effective, safest, and consistent solution to alleviate acute migraine pain and the onset of migraine symptoms.
“We are excited to partner with DWHP and are very thankful to Stout for introducing us to DWHP and initiating and driving the completion of this very complex and important transaction,” said Pierre Rigaux, CEO and Co-Founder of CEFALY. “We believe that DWHP is the ideal partner for CEFALY as the company enters its next stage of fast growth and continues down the path of transforming the way migraines are treated globally.”
“CEFALY is at the forefront of non-invasive neuromodulation for the treatment of migraines with impressive results in the elimination and/or reduction of migraine pain,” said John Calcagnini, Managing Director and Head of Stout’s Healthcare & Life Sciences industry practice. “We anticipate that growing numbers of patients worldwide will adopt their devices as a stand-alone or concomitant therapy. The company also has an impressive pipeline of additional neuromodulation indications that they can pursue or out-license. Pierre and his team were a pleasure to work with, as was DW Healthcare Partners.”
The transaction was led by John Calcagnini at Stout, while Sheppard Mullin and Bird & Bird served as the legal advisors to CEFALY. Mintz Levin and Stibbe served as legal counsel to DW Healthcare Partners.