re: Ann: Acquisition of 2nd largest oral appl... Orthosom buying into Somnomed , I think they may go past their 460,000 shares they are attempting to buy on market. Stock is tightly held and several funds are now holders so as growth expands the price will accelerate its uptrend. Somnomed expanding into several other countries in this financial year as well. IMO cheap at the current price and market cap.
SomnoMed takes a bigger bite of French oral market
Tuesday, October 09, 2012 by John Phillips
SomnoMed (ASX: SOM) has pounced on the second largest oral appliance company in France, and will acquire Orthosom from Aliseo S.A.
SomnoMed is focused on diagnostic and treatment solutions for Sleep-related Breathing Disorders including obstructive sleep apnea, snoring and bruxism.
The deal has been done with the company's subsidiary SomnoMed France, with the transaction involving the purchase of all IP and assets of the second largest manufacturer and distributor of oral appliances in the country.
Consideration is Euro 300,000 in cash plus the issue of shares in SomnoMed France, which will give Aliseo S.A. a 35% share of SomnoMed’s French subsidiary. Aliseo S.A. will at the same time purchase Euro 300,000 worth of shares (around 460,000 shares) in SomnoMed.
SomnoMed France will take over all of Orthosom’s staff effective 12th November 2012 and has entered into support and service agreements with Aliseo S.A., one of the largest providers of CPAP and oxygen therapy for breathing disordered patients in France.
SomnoMed said that the acquisition will allow the company to introduce its products alongside the Orthosom oral appliances in the French market from next month.
Importantly - this will not only save the company time and cost in starting up from scratch in France, but it also provides a respected and well known French entity, service and sales force.
http://www.proactiveinvestors.com.au/companies/news/34266/somnomed-takes-a-bigger-bite-of-french-oral-market-34266.html
Ann: Acquisition of 2nd largest oral appliance co, page-2
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