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IntriCon Acquires Singapore-Based Engineering and Manufacturing Services Provider Emerald Medical Services.

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MANews-(C)2009-2020

US-based implantable and body-worn medical devices developer IntriCon Corp. (NASDAQ: IIN) has completed the acquisition of Singapore-based medical device engineering and manufacturing services provider Emerald Medical Services Pte Ltd., the company said.

The acquisition expands IntriCon's medical coil and micro-miniature medical device engineering and manufacturing capabilities in surgical navigation and accelerates diversification into potential new end markets.

Emerald Medical Services, based in Singapore, provides joint engineering and manufacturing services for complex medical devices, including catheters covering a range of applications for cardiology, peripheral vascular, neurology, radiology and pulmonology.

EMS's production capability consists of design, development, manufacturing, testing and non-sterile packaging services.

Under the terms agreement to acquire EMS, the transaction consideration consists of an upfront payment of approximately USD 7.1m, 80,000 shares of IntriCon common stock, and a cash earnout based on the achievement of specific sales milestones over a three-year period.

IntriCon expects the acquisition to be accretive to revenue and...

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