Sun Pharmaceutical Industries plans to acquire a 16.33% stake in Surgimatix, Inc for $3.05m, pending conditions, and expects completion by February 2024.
Sun Pharmaceutical Industries announced plans to acquire a 16.33% stake in US-based medical firm Surgimatix, Inc for $3.05 million. Surgimatix is involved in the development of a soft tissue fixation device for laparoscopic hernia repair and other minimally invasive surgeries. The acquisition is subject to certain conditions and expected to be completed by February 2024. Sun Pharma will also have the right to receive warrants equivalent to 20% of the shares purchased.
February 20, 2024
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