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China´s Shanghai Genext Medical Technology to Acquire Lifeline Scientific for USD 87.8m 
Wednesday 07 September 2016

7 September 2016 - US-based transplantation clinical products and services provider Lifeline Scientific, Inc. (AIM: LSIC) has entered into a definitive merger agreement with Chinese medical products company Shanghai Genext Medical Technology Co., Ltd and certain of its affiliates.

SGM is a medical products company serving the field of transplantation in the Asia region.

Under the deal, 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 87.8m in cash.

The LSI 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.

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 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. 
 
Piper Jaffray and Co. and its affiliate, Piper Jaffray Ltd. served as exclusive financial advisor to LSI and provided a fairness opinion to the company's board of directors. Perkins Coie LLP and Latham Watkins (London) LLP served as counsel to LSI.
 
CITIC Securities Co., Ltd served as exclusive financial advisor to SGM. BFC Group Ltd served as the financing advisor to SGM. Polsinelli PC and King and Wood Mallesons served as counsel to SGM.
Details
Date Published: 07/09/2016
Target: Lifeline Scientific
Country: USA
Deal Size: 87.8m (USD)
Sector: Healthcare
Type: Corporate acquisition
Financing: Cash
Status: Agreed
Vendor:
Buyer: Shanghai Genext Medical Technology
Buyer Advisor: CITIC Securities Co , BFC Group , Polsinelli PC , King and Wood Mallesons
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