M&A this week: Gyros, Auris Surgical Robotics

21 April 2016 (Last Updated April 21st, 2016 18:30)

Gyros Protein Technologies, a company based in Sweden, has announced an agreement to merge with US-based company Protein Technologies, Inc.

Gyros Protein Technologies, a company based in Sweden, has announced an agreement to merge with US-based company Protein Technologies, Inc.

Gyros provides automated micro-immunoassays for the development of therapeutic proteins, whereas Protein Technologies produces peptide synthesis instrumentation and reagents.

"The merger will result in a new company called Gyros Protein Technologies AB, which will be able to grow faster in the areas the two companies are engaged in."

The merger will result in a new company called Gyros Protein Technologies AB, which will be able to grow faster in the areas the two companies are engaged in.

Auris Surgical Robotics has agreed to acquire Hansen Medical, Inc., for $80m in a cash transaction that will involve the purchase of the latter's shares at a price of $4 per share.

The offer price represents a premium of approximately 39.9% over Hansen Medical's closing price on NASDAQ on 19 April.

The target company is engaged in the design and manufacture of medical robotics for positioning and control of catheter-based technologies. Auris Surgical Robotics provides robotics technology for medical applications.

The takeover, which is expected to be completed in mid-2016, is expected to enhance the acquirer's position in the robotics market.

Both companies involved in the transaction are based in the US.