Loading…
Avingtrans announced that its subsidiaries Scientific Magnetics and Tecmag will merge with Australian medtech company Magnetica Limited. Avingtrans will become majority shareholder (58.4% initial, rising to 59.0% after AUD$0.6m cash contribution) and invest up to £3.2m for new MRI product development. Completion is subject to Magnetica shareholder approval on January 29, 2021.