FemTech leader Elvie has been acquired out of administration by a US company that sued it for patent infringement in 2023.
Lindsay Hallam, Matthew Boyd Callaghan and Oliver Wright of FTI Consulting have been appointed as administrators of Chiaro Technology Limited, trading as Elvie.
On appointment the joint administrators successfully completed a sale of the business and assets of the company to Willow Blossom Holdco Limited, a subsidiary of Willow Innovations Inc.
The deal transfers all 178 employees, “representing the best solution for creditors”, according to FTI.
Headquartered in Bristol, Elvie develops, distributes and sells innovative products for mothers, focused on feeding, sleeping and maternal recovery – most famously wearable breast pumps.
The business has suffered from a challenging fundraising environment and difficult market conditions including increased competition from copy-cat rival products, said FTI.
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“While this transition marks a significant change for the company, we are happy that the much-loved Elvie brand – with its iconic products and innovation – will continue its journey under Willow’s guidance,” said Karim Abdel-Ghaffar Plaza, director of Elvie.
“Elvie has always been committed to dismantling the stigma surrounding women’s health and bringing innovative technology to women, and we look forward to continuing to tell that story together.”
Hallam commented: “This transaction ensures the continuation of an iconic business that has helped thousands of mothers across the globe.
“It also preserves a number of jobs for Elvie’s employees and secures a continued level of go-forward support for Elvie’s customers.
“We wish Willow well with the integration of Elvie and are pleased to have delivered this result.”