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Bionik Laboratories Enters into Merger Agreement to Acquire Interactive Motion Technologies, Inc. (IMT)
Bionik Laboratories Enters into Merger Agreement to Acquire Interactive Motion Technologies, Inc. (IMT).
About this update from Bionik Laboratories Corp.
[{"type":"text","content":"\n\n\n\nBionik Laboratories Enters into Merger Agreement to Acquire Interactive Motion Technologies, Inc. (IMT)\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nBionik Laboratories Enters into Merger Agreement to Acquire Interactive Motion Technologies, Inc. (IMT)\nCanada NewsWire\nTORONTO, March 7, 2016\n\n\n\n-- Bionik to acquire all of IMT's outstanding stock; IMT shareholders to receive shares of Bionik common stock \n\n-- Bionik executing the first step in expanding the Company's robotics neurorehabilitation product portfolio beyond internal development \n\n-- IMT product portfolio includes three revenue-generating, commercial stage products and two development-stage programs \n\n-- Bionik will have a product portfolio to address both upper and lower body rehabilitation for mobility challenged individuals \n\n-- Preeminent leaders in robotics technology development to join Bionik management team \n\n-- Bionik's near-term strategy is to accelerate market expansion and revenue generation with IMT product integration \n\n\n\nTORONTO, March 7, 2016 /PRNewswire/ -- Bionik Laboratories Corp. (OTCQX: BNKL), a medical device and robotics company with a focus on developing technologies and solutions for individuals with neurological disorders (\"Bionik\" or the \"Company\"), announced today it has entered into a definitive merger agreement to acquire Interactive Motion Technologies, Inc. (IMT), a Boston, Massachusetts-based global pioneer and leader in providing effective robotic tools for neurorehabilitation. Under the terms of the Merger Agreement, pending shareholder approval, among other conditions, IMT shareholders will receive an aggregate of 23,650,000 shares of Bionik's common stock.\n\n\n\"We worked tirelessly throughout 2015 to identify the right opportunities to execute on our growth strategy, and I believe this all-stock transaction will be transformational for Bionik. The proposed acquisition of IMT and its innovative medical engineering systems will enable Bionik to significantly expand our technology and product portfolio, enabling the Company to offer a s...