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Lifeline Scientific Shares Acquired Following Merger with Shanghai Genext Medical Technology
Lifeline Scientific (“LSI”), leading international provider of clinical products and services in the field of transplantation, has entered into a definitive merger agreement with Shanghai Genext Medical Technology Co., Ltd (“SGM”), and certain of its affiliates. SGM is a medical products company serving the field of transplantation in the Asia region. Pursuant to the Merger Agreement, SGM’s affiliate would acquire all of the issued and to be issued shares of common stock of LSI for an aggregate consideration of up to approximately USD 87.8 million in cash. The Lifeline Scientific’s Board of Directors unanimously approved the Merger Agreement and will recommend that the Company’s shareholders vote in favour of the merger Agreement and acquisition.
Korys invested a first time in LSI in 2003 and has since then been supporting the company along its impressive growth trajectory as a private and public company. Having preserved over 75,000 kidneys for clinical transplantation, the company has developed into a global leader of kidney transport preservation solutions.
The Acquisition is subject to certain closing conditions specified in the Merger Agreement, including regulatory and other approvals for SGM and the approval of LSI’s shareholders for both the Acquisition and the cancellation of the admission to trading on AIM of the LSI shares
About Lifeline Scientific
Headquartered in Chicago, Illinois, LSI is a global medical technology company with regional offices in Brussels and Sao Paulo. The Company’s focus is the development of innovative products and services that improve transplant outcomes and lower the overall costs of transplantation. Its lead product, LifePort Kidney Transporter, is the global market-leading medical device for hypothermic machine preservation of donor kidneys. LifePorts and novel solutions designed for preservation of other organs are in development, with LifePort Liver Transporter next in line for commercial launch.
About Shanghai Genext Medical Technology Company
Founded in 2004, SGM is a growing medical technology company specialising in serving the field of transplant medicine in the Asia region. With headquarters in Shanghai, SGM offers a convenient one-stop shopping resource for transplant therapeutics, diagnostics and medical devices designed to help clinicians improve outcomes for end-stage organ disease patients in need of a life saving transplant.