Deerfield Management Company to take Endologix private.

Deerfield Management Company, a private equity firm, agreed to take Endologix, a developer and marketer of innovative treatments for aortic disorders, private. Under the terms of the proposed plan of financial reorganization, Endologix will eliminate approximately $180m of debt from its balance sheet on a net basis, including approximately $130m of debt currently held by Deerfield that will convert to equity in the reorganized company. "Although Covid-19 has presented a delay in many AAA procedures that, in turn, has negatively impacted our revenue, we remain confident we have taken the right steps to ensure we are consistently providing valued support to customers and the patients we serve with the highest quality products and the most talented and committed employees in the industry. The path we are now taking to strengthen our balance sheet and transition to private ownership will allow us to accelerate our progress with our strong patient-first business focus, an enduring spirit of innovation, and an unrelenting commitment to advancing our life-saving products supported by industry-leading evidence," John Onopchenko, Endologix CEO.