Swedish medical technology company Bactiguard has acquired Malaysian medical devices firm Vigilenz.
The deal is valued at $4.5 million in cash and the equivalent of $2 million in shares, Bactiguard said in a statement on Tuesday (Feb 4).
Bactiguard will assume net debt of close to 12 million kronas ($1.2 million) as a result of the acquisition.
Vigilenz manufactures medical devices primarily for wound management and infection control. It currently has seven products halal-certified by the Department of Islamic Development Malaysia (JAKIM), including hernia mesh, wound wash, and synthetic absorbable sutures.
Bactiguard and Vigilenz started a partnership in 2015 to develop Bactiguard-coated orthopaedic trauma implants, which were CE-marked in 2018.
The Malaysian firm earned a turnover of approximately 18 million ringgit ($4.37 million) in 2019, said Bactiguard.
The Penang-based company is Bactiguard’s first acquisition.
Bactiguard reported revenues of 136.2 million kronas ($14.1 million) and net profit of 14.7 million kronas ($1.5 million) for January to September 2019. The company is listed on Nasdaq Stockholm.
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