Investment firm Deerfield Management has been selected to acquire the assets of image-guided therapy developer IMRIS.
Investment funds managed by Deerfield were the prevailing parties in a recently completed sale for IMRIS assets. Deerfield is acquiring the firm's imaging and service businesses, including its operations in China, Germany, and Japan, as well as its robotics intellectual property.
IMRIS filed for Chapter 11 bankruptcy protection in May, and trading in its common shares was suspended in June. IMRIS said it intended to sell its business to Deerfield as part of the bankruptcy filing.
The IMRIS acquisition fits Deerfield's mission of advancing healthcare through investment, information, and philanthropy, according to Ted Huber, a partner at the firm. A hearing before the U.S. Bankruptcy Court for the District of Delaware is scheduled for August 12, with the transaction anticipated to close shortly thereafter.
