Nurse Next Door sells trademark and other IP rights to Diversified Royalty Corp.
November 15, 2019
52.00 Million CAD
On November 15, 2019, Diversified Royalty Corp. (DIV) announced that it had closed its acquisition of the trademarks and certain other intellectual property rights owned by Nurse Next Door, through DIV's subsidiary NND Royalties Limited Partnership. The trademarks and IP rights, which were utilized by Nurse Next Door in its premium home care business, were then licensed back to Nurse Next Door for 99 years, in exchange for an initial royalty payment of C$4.8 million per year.
These rights constitute DIV's fifth royalty stream. DIV also owns the Sutton, Mr. Lube, AIR MILES®, and Mr. Mikes trademarks.
Nurse Next Door is a 24-hour home care service for senior citizens, operating in Canada, the USA, and Australia.
McCarthy Tétrault advised Nurse Next Door with a team led by Robin Mahood that included Gerald Gaunt and Barbara Wang (Business) and Vincent Yip (Intellectual Property).