The Walden Group advised JoViPak Corporation and arranged for its sale to BSN Medical GmbH & Co. KG,, a $850m manufacturer of products for wound care, vascular disease, lymphology and non-invasive orthopaedic conditions. JoViPak pioneered the market for night-time lymphedema garments to manage lymphatic disorders, an underserved, yet rapidly growing market. JoViPak's products simulate the dynamic massaging action of an expert lymphedema therapist in gently releasing trapped fluid so that it properly drains via the lymph system.
Lymphedema is a painful and chronic swelling of the arm and/or chest wall and may affect up to 70% of women who have undergone surgery or received radiation for breast cancer.
The transaction strengthens BSN's position in lymphedema, complementing its recent acquisition of FarrowMed, which makes patented velcro compression wraps used to manage lymphedema. The lymphedema treatment market still lacks awareness, and the combination of BSN (which also owns JOBST Elvarex compression stockings) and JoViPak offer patients a comprehensive treatment solution with garments for day and nighttime use, as well as a patient and clinician service orientation to raise awareness of the disease. Due to the transaction, BSN will benefit from an increased market presence in the U.S. and can propogate JoViPak's products in worldwide markets via its sales force and other resources.The Walden Group represented JoviPak and arranged for the transaction. Terms ere not announced. For more information, see http://finance.yahoo.com/news/bsn-medical-acquires-jovipak-become-123000272.html