Chestnut Medical Acquired by ev3

• TM Capital advised Chestnut Medical Technologies, Inc. in its acquisition by ev3 Inc. (NASDAQ: EVVV), a global endovascular device company now owned by Covidien (NYSE:COV), a $12 billion global healthcare products leader
• ev3 acquired Chestnut for $150 million in cash and stock, half of which was paid at closing and the remainder paid on FDA approval of the company’s novel Pipeline Embolization Device for the treatment of cerebral aneurysms
• Chestnut Medical is a privately held, California-based company focused on developing minimally invasive therapies for interventional neuroradiology
• The transaction broadened ev3’s, now Covidien’s, neurovascular product portfolio by adding Chestnut’s Pipeline and Alligator Retrieval devices to ev3’s existing embolic product and access technologies

See Press Release