Cutting Edge is an investment holding company with interests in emerging and novel medical device companies, while RTG is involved in the development, manufacture and distribution of respiratory therapy products.
Both companies involved in the transaction are based in the US.
The transaction will enable the target company to expand and develop its product line.
The transaction includes the acquisition of two adjoining production facilities covering an area of 54,000ft² located in Wall Township, New Jersey, US.
Based in the US, Spectrum Plastics Group is a medical extruder involved in the design and manufacture of specialist plastics products, while Fermatex Vascular, also based in the US, is a designer and manufacturer of highly engineered medical extrusions.
Vance Street plans to re-invest part of the funds raised from the divestment in Spectrum Plastics Group.
Myriad Genetics has entered a definitive agreement to purchase Counsyl Inc for a total consideration of $375m.
Counsyl’s shareholders will have the right to receive 25% of the consideration in the form of Myriad’s common stock. The total number of shares issued to Counsyl’s shareholders will not exceed three million.
The acquisition is expected to be completed in the first quarter of 2019.
Counsyl will operate as a wholly owned subsidiary of Myriad, upon completion of the transaction.
Based in the US, Myriad is a molecular diagnostic company, while Counsyl, also based in the US, is a carrier and non-invasive prenatal screening provider.
The acquisition will enable Myriad to enter the reproductive testing market and strengthen its women’s health product portfolio.