Supplier News Breaks
Nipro wraps up acquisition of Home Diagnostics
March 17th, 2010
OSAKA, Japan and MIAMI – Nipro Corp. has completed its acquisition of diabetes testing supplier Home Diagnostics Inc.
The Japanese medical device manufacturer said that to complete the acquisition of all of Home Diagnostics' shares, it effected a short-form merger. Under the move, Nipro subsidiary Nippon Product Acquisition Corp. merged with and into Home Diagnostics, with Home Diagnostics surviving the merger and continuing as a wholly owned subsidiary of Nipro.
In the wake of the merger, Home Diagnostics' shares will cease to be traded on the Nasdaq Global Select Market, according to Nipro.
The companies announced the $215 million acquisition agreement in early February.
Fort Lauderdale, Fla.-based Home Diagnostics' roster of blood glucose monitoring systems includes such brands as TRUE2go, TRUEresult, TRUEtrack, TRUEbalance, Sidekick, TRUEread and Prestige IQ. The products are available in more than 45,000 U.S. pharmacies, and the company is the exclusive co-brand supplier of blood glucose monitors for leading pharmacies including CVS, Rite Aid and Walgreens, as well as distributors such as AmerisourceBergen, Cardinal Health, McKesson, Invacare and Liberty Medical.
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