RoundTable Healthcare Partners Acquires Sabex

On April 18, 2002, RoundTable Healthcare Partners LP completed the acquisition of the business formerly carried on by Sabex Inc., a leading Canadian generic, injectable pharmaceutical manufacturer, for an undisclosed amount. RoundTable is a Chicago-based operating oriented private equity firm focused on the healthcare industry.
As part of the acquisition transaction, RoundTable also completed a financing transaction, on behalf of Sabex, of new senior secured credit facilities and a private placement of subordinated notes. The senior credit facilities were led by General Electric Capital Canada and JPMorgan Chase Bank and the notes were issued to a syndicate of lenders including Massachusetts Mutual Life Insurance Company, National City Equity Partners and Banc One Mezzanine Corporation.
RoundTable was represented on both the acquisition and financing transactions by Gowling Lafleur Henderson LLP, with a team led by Filomena Frisina (M&A). On the acquisition the Gowlings team included David Rosenthal, Stephen McKersie, Marie Sabourin and Farida Merali (corporate), George Corn (tax), Catherine Pawluch (competition and Investment Canada), Clifton Prophet (pensions) and Susannah Rolston (trademarks) in Toronto; Luc Lissoir (M&A), Pierre Lissoir (corporate securities), Daniel Lacelle (tax), Luc Deshaies and Marzia Frascadore (employment), Karine Dumont and Julie Frégeau (corporate) in Montreal; and Joel Taller (pharmaceutical regulatory) in Ottawa.
Sabex was represented by Desjardins Ducharme Stein Monast, with a team that included Marc Rochefort, Patrick Théoret and Jean-Sébastien Desroches. Caisse de dépôt et placement du Québec subsidiaries, minority shareholders of Sabex, were represented by in-house counsel Julie Tremblay, and assisted by Élise Paul-Hus of Coudert Frères.
On the financing the Gowlings team included, Lilly Wong in Toronto; David Kierans and Charles-Antoine Robitaille (finance) and Alain Lalonde (real estate) in Montreal; Richard Myers (finance) in Calgary; and Henry Ellis (finance) in Vancouver.
General Electric Capital Canada was represented by Davies Ward Phillips & Vineberg LLP in Montreal, with a team that included Hillel Rosen, Janet Ferrier, Laurence Detière and Dominic Nadeau.

The syndicate of lenders led by Massachusetts Mutual Life Insurance Company, were represented by Choate, Hall & Stewart in Boston.