Kyma Medical Technologies, a developer of remote cardiac monitoring devices, is entertaining a $35 million acquisition offer from an unnamed suitor, according to a regulatory filing by Elron Electronic Industries (TASE:ELRN), which owns a stake in Kyma.
Kyma told Elron that it inked a non-binding letter of intent with “a non-affiliated 3rd party regarding a potential acquisition of Kyma” for $35 million in cash, plus a 4½-year earnout schedule for an unspecified series of revenue-based milestones, according to the filing. The deal would also include sales royalties for 5½ years, Elron said, noting that it would net about $7 million if the deal is consummated.
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Kyma told Elron that it inked a non-binding letter of intent with “a non-affiliated 3rd party regarding a potential acquisition of Kyma” for $35 million in cash, plus a 4½-year earnout schedule for an unspecified series of revenue-based milestones, according to the filing. The deal would also include sales royalties for 5½ years, Elron said, noting that it would net about $7 million if the deal is consummated.
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