Biosensors International Group Ltd. (BSNRY.PK), a developer, manufacturer and marketer of medical devices, announced that it has completed its acquisition of substantially all assets of Spectrum Dynamics, a leader in advanced functional assessment technologies, including those used to evaluate patients for cardiac interventions. The deal consideration is about US$51 million, with potential earn-out payments upon fulfilling certain performance criteria.
As per the terms of the deal, the two companies will also create a joint venture aimed at developing future non-cardiac applications.
Biosensors expects the transaction to have minimal impact on its 2014 fiscal year financial results, with the potential to be moderately accretive to its earnings in the following fiscal year.
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by RTT Staff Writer
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