In March 2021, Rockley Photonics, a leading developer of integrated silicon photonic chips and modules, announced a strategic investment from Medtronic, one of the largest medical device companies in the world.
Also in March 2021, Rockley Photonics announced its merger with SC Health, a NYSE-listed SPAC. The transaction will result in Rockley becoming a publicly-traded company on the NYSE under the symbol RKLY and values the joint company at a pro forma enterprise value of $1.2 billion.
Technology M&A Practice (Formerly Pagemill Partners), a Kroll Business, served as the strategic financial advisor to Rockley Photonics in connection with Medtronic’s investment.
About Rockley Photonics
Rockley Photonics, headquartered in Pasadena, California, U.S., is a leading integrated photonics chipset developer and module supplier for high-volume sensor and communication products. Formed in 2013, Rockley is led by Dr. Andrew Rickman, the founder of the first commercial silicon photonics company, Bookham Technology. Rockley has positioned itself for hyper scale manufacture with a uniquely capable platform that can address multiple huge and emerging markets, including health monitoring in consumer devices, data communications and machine vision. Rockley has partnered with multiple tier-1 customers across the markets it serves to deliver the complex optical systems required for transformational product realization. Pillsbury Winthrop Shaw Pittman LLP served as legal counsel to Rockley Photonics.
Medtronic plc, headquartered in Dublin, Ireland, is among the world's largest medical technology, services, and solutions companies. Medtronic employs more than 90,000 people worldwide, serving physicians, hospitals and patients in more than 150 countries.