Morales & Besa advised the Accel-KKR group in the acquisition of several companies connected to the development of technological products destined to support the business of Isapres and health services providers, among which the most relevant is I-Med S.A.
Morales & Besa successfully advised the Accel-KKR group in the acquisition of several companies connected to the development of technological products destined to support the business of Isapres and health services providers, among which the most relevant is I-Med S.A.
The operation involved, among other matters, the negotiation of the main agreements and completion of a due diligence process and in very tight timeline, being the latter focused primarily on contractual aspects with material providers and clients in the health services area, and intellectual property and software aspects related to the companies of the Group.
Furthermore, the transaction involved the negotiation with Banco Santander-Chile of a loan for financing part of the purchase price, which meant a special effort to coordinate this financing with the specifics of the acquisition operation.
The transaction also has, as additional difficulty, that the Group companies were owned, directly or indirectly, by three publicly traded companies (Sonda, Banmédica and Inversiones La Construcción), all of which had special interests in the operation.
In addition, the transaction involved the negotiation and amendments to contracts with entities that would no longer be related persons of the Group companies once the sale was executed, with the purpose of continuing to efficiently develop the business operation.
The purchase and acquisition process required constant coordination with different jurisdictions, the negotiation of a bank financing granted by Banco Santander-Chile for part of the acquisition price; and the negotiation of the terms of financing granted by the sellers.
The transaction represents the first direct investment of the Accel-KKR fund in Chile.
Morales & Besa team involved in this transaction, in the M&A matters, was formed by the partner Michel Diban with the participation of associates María Teresa Manubens, Monte Trincado, Sebastián Nieme and José Manuel Llamazales. In financing matters, partner José Miguel Carvajal with the participation of associates Felipe Corvalán and María Francisca Estrougo. And in Tax matters, partner Francisca Pérez and associates Lorena Barrientos and María José Becker.