Wallaby Medical, a firm that develops devices to treat strokes, is in advanced talks to buy Germany’s closely held Phenox GmbH, according to people familiar with the matter.
Wallaby, with offices in Shanghai and Laguna Hills, California, is still negotiating final details of a potential transaction, the people said, asking not to be identified because the information is private. A deal could value Phenox at about 500 million euros ($558 million), the people said.
