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Following Birch Hill's takeover, Velan appointed Rishi Sharma as President and Chief Executive Officer and Imran Gibbons as Chief Financial Officer, while Jim Mannebach retired as CEO and Chair.
Birch Hill completed the acquisition of a controlling interest in Montreal-based valve maker Velan from Velan Holding and affiliated entities at C$13.10 per share, giving it about 72.1% of shares and 91.9% of voting rights.
