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Somnomed Limited (ASX:SOM) is expanding its presence in France with the purchase of the country’s second largest oral appliance company, Orthosom.
The oral device manufacturer’s French subsidiary, SomnoMed France, has inked a cash and scrip deal to buy Orthosom from Aliseo.
Under the deal SomnoMed France will pay Aliseo €300,000, or about $AUD381,000, and issue 35 per cent of SomnoMed France shares to Aliseo.
Somnomed says the acquisition will enable the company to introduce its products alongside Orthosom’s oral appliances in the French market from November 2012.
Somnomed’s net profit dropped 29 per cent to $699,745 in the full 2012 financial year.
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Last
75.0¢ |
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0.020(2.74%) |
Mkt cap ! $163.6M | |||
| Open | High | Low | Value | Volume |
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