Acquisitions20 Feb 2024, 08:22 pm
Sun Pharma to Acquire 16.33% Stake in Surgimatix for USD 3.05 Million
AI Summary
Sun Pharmaceutical Industries Limited has entered into an agreement to acquire 16.33% stake in Surgimatix, Inc., a US-based company developing a proprietary soft tissue fixation device for laparoscopic hernia repair and other minimally invasive surgeries, for USD 3.05 million. The acquisition is not a related party transaction and is subject to fulfilment of certain conditions by February 2024.,
Key Highlights
- Acquisition of 16.33% stake in Surgimatix, Inc.
- USD 3.05 million cash consideration
- Non-material investment in allied areas
- No related party transaction