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Ellex Medical Lasers Ltd completes acquisition of canaloplasty business of iScience Interventional Inc

Sunday, 5 Jan 2014 06:23pm EST 

Ellex Medical Lasers Ltd:Says that, pursuant to the binding agreement it entered into on Dec. 18, 2013, it has acquired the canaloplasty business of US-based iScience Interventional, Inc., which comprises iTRACK 250 catheter and suture device.Says on Dec. 31, 2013 (California time) Ellex paid $1.5 mln in exchange for iScience Interventional's canaloplasty business, including accounts receivable (about $0.5 mln) and inventory (about $0.5 mln).Says it also covers manufacturing machinery and equipment and intellectual property.Says consideration for the purchase also includes an earn-out over several years based on a percentage of business revenues.Says Ellex has retained six permanent staff plus a small transition team, who will all commence with for Ellex on Jan. 6.Says the business will continue to operate from Menlo Park, California. 

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-0.01 -2.82%
3 Mar 2015