Our corporate team has advised the shareholders of Owen Mumford Holdings Limited on its agreement for the sale to embecta Corp. (Nasdaq: EMBC), a global leader in diabetes care technology, in a transaction valued at up to £150 million.
Oxfordshire-headquartered Owen Mumford is a privately held innovator and manufacturer of medical devices and drug-delivery technologies. Founded in 1952, it is a trusted partner to many of the world's largest pharmaceutical, biotech and healthcare organisations. The company’s product portfolio spans drug delivery devices, point-of-care testing, self-injection and pelvic health – anchored by its next-generation Aidaptus® auto-injector platform.
The deal will enable Owen Mumford to expand its product portfolio and capitalise on embecta's commercial presence in more than 100 countries. It also brings together Owen Mumford's expertise in device design and drug-delivery systems with embecta's large-scale production capabilities to support future product programmes.
Our team was led by partner Alex Kenworthy, based in the Leeds office, supported by senior associate Matthew Lilley, and Oxford-based associate Owen Henderson – drawing on the firm's national network of sector specialists to deliver seamless cross-office expertise throughout the transaction.
Commenting on the announcement, Gavin Jones, managing Ddirector of Owen Mumford, said:
"This is a landmark moment for Owen Mumford. For more than 70 years we have been at the forefront of medical device innovation, and joining embecta gives us the global reach and commercial infrastructure to take that legacy to the next level. The combination of our drug-delivery expertise, particularly the Aidaptus platform, with embecta's scale creates a genuinely exciting opportunity to improve outcomes for patients living with chronic conditions around the world.”
Adam Mumford, one of the exiting shareholders, said:
“Throughout the process we received truly excellent and timely advice and assistance from the Mills & Reeve team. Their experience and support was extremely valuable and we undoubtedly made the right choice in selecting them as our legal advisers for this transaction. They were a pleasure to work with.”
Alex Kenworthy, partner at Mills & Reeve, added:
"This acquisition is the culmination of many years of hard work and dedication by generations of the Owen and Mumford families, and represents a tremendous opportunity for Owen Mumford to scale up further, combining a world-class drug-delivery platform with embecta's global commercial reach and creating real potential to improve outcomes for patients around the world.
"It was a real pleasure to work with the shareholders and members of the senior leadership team and to bring together colleagues from our Leeds and Oxford offices on this deal – drawing on the advantages of local presence alongside our national resource and expertise to deliver this complex, cross-border life sciences transaction – it’s is something that genuinely sets Mills & Reeve apart."
Other advisers on the transaction included Forvis Mazars (financial adviser to Owen Mumford and its shareholders), J.P. Morgan Securities (financial adviser to embecta) and A&O Shearman (legal counsel to embecta).
The transaction is set to complete later in the year.
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