The US-listed company, which owns a medical device plant in Galway, moved its incorporation – and tax residence – from Switzerland to Ireland this week.
The deal sees the Stockholm-listed animal health group acquire the Meath-based company for an initial €84m with a further €60m dependent on targets.
AQF Medical makes specialist packaging for the medical device sector and has been picked up by the Nasdaq-listed firm. The deal means another exit for Irish private equity firm Renatus Capital Partners.
The Limerick-based and Toronto-listed firm builds software for the life sciences sector but said its business is dependent on a “relatively small number of customers”.
Podimetrics filed a complaint against the Galway medtech start-up in the US, claiming its device for scanning diabetics' feet violates its patents.
Partner Niall McEvoy explains why the firm is scouting out more early-stage start-ups in the medtech and health space and discusses the state of Irish VC investing.
The transition period for EU regulations on in-vitro diagnostic devices has been pushed to 2029, marking another extension in Europe’s effort to update its medical device rulebooks. Ireland is home to many industry heavyweights.
Without the infrastructure to reimburse digital therapeutics companies in Ireland, start-ups in this space must go to market elsewhere.
The medtech firm began to shed money until there was literally "no more gas in the tank". The appointment of an interim examiner by the High Court today has triggered eleventh-hour working capital funding that will pay staff and keep the business afloat.
The Irish medtech, which has suffered multi-million losses since its IPO in 2021, is seeking court protection from its creditors. Unusually for such a petition, it is so cash poor it can't even fund itself through the 100-day examinership process.
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