Court approves Clinical Cell Culture, Visiomed merger
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SYDNEY, Feb 12 AAP
February 12 2008, 2:39PM
Clinical Cell Culture and Visiomed Group Ltd have received court approval for their planned merger.
The Federal Court in Perth today gave its final approval to the schemes of arrangement between the two companies.
C3 Chief Executive Officer Andrew Cannon said the merger will place the new company in a strong position for growth.
"As a merged entity, we are now a more financially robust medical device group with a stronger balance sheet, better cashflows and an outstanding line of products," he said.
Visiomed and Clinical Cell Culture are merging under a scrip deal, with Visiomed shareholders receiving five Clinical Cell Culture shares for every seven Visiomed shares held.
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