Response Biomedical, a Vancouver-Shanghai IVD company, will be taken private by various OrbiMed funds and Shanghai Runda Medical Technology, also an IVD maker. The purchase price is $11 million, a 51% premium to yesterday's closing quote. Although Runda will expand Response's presence in the China market, the company will remain in Canada. OrbiMed and Runda will also inject $1 million into Response. OrbiMed Advisors, including OrbiMed Asia Partners, already owns 50.1% of Response through previous investments.
