In a $14.38m deal, Beijing Beilu Pharmaceutical has signed an agreement to acquire approximately 5.43 million shares, representing 15% stake in a company based in Wuhan, Hubei, China.
The closing of the transaction will bring Beijing Beilu’s total stake in the firm to 25%.
The acquisition will make mySugr an integral part of the acquirer’s new diabetes care digital health services platform, which offers diabetes devices and services for its global customer base.
The transaction will enable mySugr’s international growth, while enabling Roche to expand its position in diabetes management.
At the same time, the acquirer intends to raise gross proceeds of $10.95m in a private placement of shares.