Teleflex Medical Europe Ltd signed an agreement to acquire CSS Technology from Airway Medix S.A. (WSE:AWM) for PLN 44 million on August 18, 2017. Under the terms of the agreement, Airway Medix would receive PLN 22 million as upfront consideration and the remaining payments for a similar total will be spread over time. The transaction is subject to approval by the shareholders of Airway Medix in the General Meeting scheduled for September 14, 2017. As on September 14, 2017, the shareholders of Airway Medix approved the transaction. The transaction is scheduled to close by the beginning of October 2017. Pawel Zdort of Weil Gotshal & Manges Pawel Rymarz Spolka Komandytowa acted as legal advisor for Airway Medix S.A. Teleflex Medical Europe Ltd completed the acquisition of CSS Technology from Airway Medix S.A. (WSE:AWM) for PLN 45 million on October 3, 2017. Airway Medix S.A. has received the first tranche of over PLN 23 million. Approximately PLN 4 million will be paid to Airway Medix no later than at the beginning of April 2019, provided that Teleflex Medical does not raise any claims under the purchase agreement. Within a maximum of four years after the closing of the transaction, i.e. at the beginning of October 2021, Teleflex Medical will decide whether it will continue to use the intellectual property rights related to the CSS. If the decision is negative, Teleflex Medical will not pay the second tranche of the payment and will return the ownership titles, including patents, concerning the CSS to Airway Medix, and Airway Medix will be free to resell them. If Teleflex Medical’s decision is positive, the second tranche will be paid. In such case, Airway Medix will receive approximately PLN 15 million, and the remaining part of the second tranche of almost PLN 3 million will be paid at the beginning of October 2022, provided that Teleflex Medical does not raise any claims under the purchase agreement. The first tranche will be used to repay the entire debt of Airway Medix amounting to approximately PLN 7 million, and with the surplus estimated at as much as approximately PLN 10 million will be used to fully commercialize the next two technologies.