Carey Advises Olympus in acquisition of Sur Medical

Carey, a leading law firm in Chile, has guided Olympus Corporation of the Americas in its acquisition of 100% shares of Sur Medical, a Chilean distributor of medical devices, equipment, and supplies to public and private entities. 

The transaction, which closed on January 15, 2025, marks Olympus’s entry into the Chilean medical device distribution market. Barros & Errázuriz acted as counsel to Sur Medical, while Grant Thornton acted as financial advisor to Olympus.

This move by Olympus, a multinational company, involved a comprehensive diligence process, including the review of countless contracts with public and private entities. 

A key challenge in the transaction was the design and implementation of a complex carve-out to separate various business lines and brands commercialized by Sur Medical. 

The process was particularly demanding due to Sur Medical’s significant business with public entities, which presented substantial regulatory hurdles. Carey’s legal team navigated these challenges, ensuring compliance with local regulations while meeting Olympus’s strategic objectives. The deal’s innovative aspects included the intricate carve-out design and its regulation in the share purchase agreement, addressing the complexities arising from Sur Medical’s extensive public sector contracts.

Sean Nabi and Vivian Bocchio acted as in-house lawyers for Olympus Corporation of the Americas.

Barros & Errázuriz’s team comprised partner Lucas Marinovic, counsel Daniela Peña, and associates Daniela Tumani, Josefa Riquelme and Tomás Sotomayor.

Carey’s team was led by partners Guillermo Carey (pictured left), Francisco Ugarte (pictured center, left), Ignacio Gillmore (pictured center, right) and Camilo Lledó (pictured right), with support from associates Camila Suárez, Pablo Bauer, Isabel Cantillana, and Agustín Figueroa.