© The Jenex Corporation
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The Jenex Corporation signs LoI to acquire medical device assets
Medical device technology company, The Jenex Corporation, has entered into a non-binding letter of intent to acquire two medical device products with established sales and cash flow.
The acquisition targets have been sold worldwide under established brand names, which are not named in the press release. The devices utilise thermal therapy to relieve cosmetic related acne and other topical related applications.
The Jenex Corporation keep the acquisition targets undisclosed as the LOI is conditional upon the execution of a definitive share purchase agreement. The acquisition will be subject to customary due diligence to be completed by end of the year.
'We look forward to completing the Proposed Acquisition over the next 90 days which adds a substantial increase to our top line revenue and earnings. The Proposed Acquisition will be made at an attractive multiple to FCF and will be immediately accretive to Jenex upon closing. The Acquisition Targets provide a strategic fit to enhance our existing thermal therapy medical device offerings,” says ROB Fia, CEO. “We have identified a wide-range of synergies including potential new distribution channels for our existing product offerings and expect to identify additional opportunities as we complete our due diligence. We believe the Proposed Acquisition represents an ideal fit, creates value for shareholders and effectively builds off Jenex's core competencies.”
