Westhouse Medical Services Acquires Majority Stake in Quy Biosciences
Posted on November 28, 2012 @ 10:04 am
Westhouse Medical Services plc, a London, United Kingdom-based medical device maker, has acquired a 52 percent stake in Quy Biosciences Ltd. The per share price gives the Oxfordshire-based company a $5.2 million value, though precise terms of the deal were not disclosed.
Westhouse plans to purchase the remaining 48 percent of Quy Biosciences shares in the “near future.” Company executives were not more specific on a timeline for the purchase.
“This acquisition will further enhance Westhouse’s IP [intellectual property] portfolio and make a significant contribution to the company’s world wide development whilst meeting the company’s ethos of bringing technology to market for the benefit of patients globally,” said Jack Kaye, chairman of Westhouse.
Currently, Westhouse also is developing various new medical devices, including BreastCheck—a low-cost, non-invasive breast cancer-screening product intended to act as a precursor to mammogram scanning. BreastCheck is due for launch in 2013.
Westhouse recently acquired a procedure called Pneumatic Trabeculoplasty (PNT) from Fountain Hills, Ariz.-based Sunridge International via Sunridge’s subsidiary, Ophthalmic International Inc. The procedure treats glaucoma and ocular hypertension, and is CE marked for use in Europe.
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