SunTech Medical Inc. (“SunTech”), a subsidiary of Halma plc, has acquired CAS Medical Systems, Inc.’s non-invasive blood pressure monitoring product line for $4.5 million in cash. CASMED will be eligible to receive up to an additional $2.0 million in cash based on the achievement of certain sales criteria through June 2019. CASMED will provide transition services as necessary to ensure continuous customer satisfaction throughout the product line transition to SunTech. SunTech will also purchase the related product inventory at the end of that short transition period.
The non-invasive blood pressure monitoring product line includes MAXNIBP® and MAXIQ™ technology, which are supplied by CASMED through OEM agreements to various companies throughout the world.
EC Mergers & Acquisitions acted as the exclusive financial advisor to Halma on this transaction.