OccuLogix set for full OcuSense ownership
This article was originally published in Clinica
Executive Summary
Ophthalmic diagnostics company OccuLogix is set to buy up the remaining shares of OcuSense, a company in which OccuLogix already holds a 50.1% stake. The deal will see the Toronto, Ontario-based firm issue of approximately 79.2 million OccuLogix shares to the minority shareholders of OcuSense. Based on OccuLogix's closing price of $0.21 on April 22, the day of the announcement, this gives the transaction a value of $16.6m. OccuLogix had previously purchased the 50.1% stake in OcuSense for an aggregate fee of $8m in 2006.