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, 鈥渞epresenting the best solution for creditors鈥�, 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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鈥淲hile 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鈥檚 guidance,鈥� said Karim Abdel-Ghaffar Plaza, director of Elvie.
鈥淓lvie has always been committed to dismantling the stigma surrounding women鈥檚 health and bringing innovative technology to women, and we look forward to continuing to tell that story together.鈥�
Hallam commented: 鈥淭his transaction ensures the continuation of an iconic business that has helped thousands of mothers across the globe.聽
鈥淚t also preserves a number of jobs for Elvie鈥檚 employees and secures a continued level of go-forward support for Elvie鈥檚 customers.聽
鈥淲e wish Willow well with the integration of Elvie and are pleased to have delivered this result.鈥�