Berlin—Global law firm Dentons is advising HiDoc Technologies GmbH on its restructuring and transfer of shares to the Bayer Group as part of its insolvency proceedings.
HiDoc Technologies—a start-up, which operates the innovative digital health application (DiGA) Cara Care—filed for insolvency proceedings in self-administration on September 23, 2024 with the support of Dentons. The Hamburg District Court granted the application on December 1, 2024. Hans-Joachim Berner, a partner at the law firm WILLMERKÖSTER, was appointed as insolvency monitor.
A Dentons team from Berlin and Munich, led by Restructuring partner Dirk Schoene and counsel Judith Schmid, who are also acting as the company's general representatives, is advising HiDoc Technologies on both the insolvency proceedings and M&A deal.
Immediately after the opening of the proceedings, an investor agreement was negotiated with Bayer for the acquisition of HiDoc Technologies by means of an insolvency plan. The voting date for the insolvency plan to be submitted is scheduled for the beginning of next year in order to conclude the insolvency proceedings as quickly as possible.
Bayer will serve as a strong and experienced partner for HiDoc Technologies, while also expanding its commitment to self-care with the acquisition. “DiGA Cara Care is an important therapeutic application that enables doctors to provide patients with guideline-based and sustainable care,” explains Linda Obermeyr, Senior HCP Marketing Manager at Bayer Vital.
“Many people are seeking to take personal responsibility for their health and well-being. Digital health applications are a good complement to holistic and sustainable therapeutic approaches—this has always been our aspiration for Cara Care and is also fully in line with Bayer's vision 'Health for all, Hunger for none',” said Jim Mapes, CEO of HiDoc Technologies.
Dentons (Berlin/Munich): Dirk Schoene (Partner, Chief Restructuring Officer, Overall Lead), Judith Schmid (Counsel, Chief Restructuring Officer), Jennifer Brenke (Counsel), Jana Winkler (Associate, all Restructuring, all Berlin), Thomas Strassner, Richard Fagerer (both Partners), Maddie Ladner (Associate, all Corporate/M&A, all Munich)
Insolvency monitor: Hans-Joachim Berner (Partner, WILLMERKÖSTER)
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