On October 15, 2012, The Gores Group, a global investment firm, announced that it has made a binding offer to acquire Therakos, Inc. from Ortho-Clinical Diagnostics, Inc., a Johnson & Johnson company. Cravath represented Ortho-Clinical Diagnostics in connection with this transaction. Financial terms were not disclosed. Therakos is a global leader in extracorporeal photopheresis (ECP) immune modulation therapy. Its photopheresis systems are the only regulatory approved integrated systems for ECP.
The Cravath team included partner Robert I. Townsend III and associate Jane K. Manning on corporate matters; associates J. Leonard Teti II and Kara L. Mungovan on tax matters; and partner Eric W. Hilfers and associates Jarrett R. Hoffman and Michelle M. Garrett on executive compensation and benefits matters.