Diploma acquires Carsen Medical in cross-border transaction

On December 21, 2010, Diploma PLC, the international group of businesses supplying specialised technical products and services headquartered in the UK, announced the acquisition of Carsen Medical Inc ("CMI"), a leading distributor of medical devices and related consumables and services to GI Endoscopy suites in hospitals and private clinics across Canada. The initial cash consideration to be paid for the business, which will be met from Diploma's existing cash resources, is $22.5 million, before acquisition costs. Further deferred consideration up to a maximum of $3 million may be payable depending principally on the operating profit of CMI in the year ending September 30, 2011. Diploma was advised in this transaction by a team from Fasken Martineau including Lisa Marcuzzi and Nick Shkordoff (corporate) and Alix Herber (employment).