Diametrics Medical/Hewlett-Packard
This article was originally published in The Gray Sheet
Executive Summary
Firms sign an exclusive worldwide agreement giving HP rights to market Diametrics' Paratrend and Neotrend continuous blood-gas monitoring systems and the Irma SL point-of-care blood-testing system, Diametrics says. By Nov. 1, HP will assume full responsibility for the products, which will be sold by the firm's worldwide patient-monitoring sales force and a network of distributors and dealers. The initial term of the agreement is three and a half years, with an option for extension. As part of the deal, HP will acquire $9.5 mil. of Diametrics common stock at $7 per share, with warrants to purchase 452,381 additional shares at $8.40 each