Japan's Nipro to acquire Home Diagnostics for $215 million
04 Feb 2010
Japan's Nipro Corporation, a medical equipment manufacturer, specialising in dialysis products has yesterday agreed to acquire diabetes testing supplies maker Home Diagnostics Inc. for $215 million in order to expand in the US market.
Under the deal, the Osaka-based Nipro will pay $11.50 for each Home Diagnostics share, representing a premium of 90 per cent of Home Diagnostics stock on Tuesday.
Nipro is a manufacturer of dialysis-related products for the medical industry. The company classifies its business into four segments, the Medical Equipments, Pharmaceuticals, Glass and materials and Store.
Nipro is also engaged in researching and developing highly functional, safe medical equipment, as well as replacement equipment and reconstruction technology for all organs and bodily systems, including artificial kidneys, hearts, lungs, pancreases, skin and blood.
Its stated goal is to become one of the world's top manufacturers of artificial organs and make aggressive expansion into overseas markets.
The company's major market is in Japan, but also operates in the US, Brazil, Belgium, China, Thailand, and Singapore.