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AorTech International PLC entered a conditional agreement to acquire RUA Medical Devices Limited for £2.45 million, to be satisfied by £0.95 million cash and 1.5 million new shares. The acquisition will internalize manufacturing and the company will change name to RUA Life Sciences plc.
AorTech announced the proposed acquisition of RUA Medical Devices Ltd for £2.45 million, funded from existing resources and stock. The deal is subject to shareholder approval and expected to close after the financial year end.