Nihon Kohden to Acquire Majority Stake in NeuroAdvanced for 16 Billion Yen
Nihon Kohden (TYO:6849) is acquiring a majority stake of 71.4% in NeuroAdvanced, the parent company of Ad-Tech Medical Instrument, for about 16 billion yen.
As a result, the medical equipment manufacturer said Ad-Tech will become consolidated and specified subsidiaries of Nihon Kohden, according to its filing on Thursday.
The acquisition involves a stock purchase agreement with NeuroNewCo, a fund which owns 100% shares in NeuroAdvanced, and a shareholders agreement outlining future business operations and potential full acquisition of NeuroAdvanced.
The acquisition is part of Nihon Kohden's long-term vision to solve global medical issues and expand its consumables and services business in North America.
The share transfer is scheduled to take place Nov. 29
Nihon Kohden's shares gained over 2% in early trade.
Price (JPY): $2089.00, Change: $+45, Percent Change: +2.18%
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