Business
Acquisition of Medical Devices
Acquisition of Medical Devices.
About this update from Tekcapital Plc
[{"type":"text","content":"\n \nRNS Number : 9989U Tekcapital plc 13 April 2016 \n\n \n \nTekcapital plc\n(\"Tekcapital\" or the \"Company\")\n \nAcquisition of Medical Devices \nEstablishment of Subsidiary Company to Provide Premium Medical Products at Affordable Prices\n \nTekcapital plc (AIM: TEK), an international provider of technology and intellectual property services, announces that its subsidiary, Belluscura Limited, has acquired exclusive licences to manufacture and sell three proprietary medical devices. The devices have been developed by and exclusively licensed from Stryker Corporation, a leading medical technology company. The devices have achieved regulatory approval where necessary and have already achieved commercial sales.\n \nThe devices are: \n \n- \"SlydeTM\", a non-ambulatory patient evacuation sled;\n- \"Passport®\", a trocar for use with the Da Vinci® Surgical System (keyhole surgery); and \n- \"SNAP II\", a level of consciousness monitor for use during surgical procedures requiring general anesthesia. \n \nThe products are protected by a portfolio of 19 issued and pending patents. \n \nThe exclusive licences have been acquired by Tekcapital's newly formed UK subsidiary, Belluscura Limited (\"Belluscura\"). Belluscura has been established in order to commercialise these products, for which a new management team is being put in place. It is intended that Belluscura will market and expand sales of the devices, initially in the US and Western Europe, using third party manufacturing, and will look to acquire further exclusive licences to sell other medical devices in the future. Tekcapital is exploring the possibility of Belluscura raising funds via an IPO on AIM (a market operated by London Stock Exchange Plc) to accelerate its growth strategy.\n \nTekcapital now owns 95% of the share capital of Belluscura and Stryker Corporation owns the remaining 5%. \n \nDr. Clifford M. Gross, Executive Chairman of Tekcapital, commented: \"We are very pleased to announce the establishment of Belluscura and the acquisition of its first three medical devices. Belluscura's mission is to provide premium, proprietary medical devices at affordable prices.\"&...