Mergers & Acquisitions
Diagnostics company announces initial closing of Biocheck, Inc. acquisition
Published in Heart Disease Weekly, January 8th, 2006
As previously announced, Oxis has agreed to acquire up to all of the outstanding shares of BioCheck for an aggregate purchase price of $6 million in cash. In this initial closing, Oxis has purchased 51% of the outstanding shares of BioCheck for $3,060,000 in cash.
In addition, the two companies plan to enter into a services agreement whereby Oxis would deliver primarily operating, sales, marketing and business development functions while BioCheck would provide manufacturing and research and development expertise.
The potential synergies...
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Source: Heart Disease Weekly (2006-01-08)
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