Ajax Health, a KKR-backed medical device platform, has announced the formation of a new entity, FlowMod. The new organization is the result of a collaboration between Boston Scientific Corporation, Ajax Health, and KKR, utilizing intellectual property developed by Boston Scientific. FlowMod intends to accelerate the creation, clinical validation, and regulatory approval for a system treating heart failure, a condition that affects pumping action of the heart muscles and currently impacts 64 million people worldwide.
Latham & Watkins LLP advised KKR in the transaction with a corporate deal team led by Bay Area partner Josh Dubofsky and counsel Danny Nordstrom with associate Jennifer Boyd. Advice was also provided on tax matters by Bay Area partner Katharine Moir.
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