Throwback Tuesdays: Just A Short Squib Here... Sun Pharma Invests $3 Million In Non-Public US Surg. Device Co. Surgimatix...

We won't explain quite exactly why this appears here -- except to say that it involves some dear friends, of well-over two decades' in standing.

We are thrilled for them. Here's the latest, out of India's press, on it:

. . .Sun Pharmaceutical Industries Limited announced plans to acquire a 16.33 per cent stake in Surgimatix Inc for $3.05 million in an exchange filing on Tuesday. It is anticipated that the transaction will be finalised by the end of February 2024, pending the fulfilment of certain conditions.

In addition to the acquisition of shares, Sun Pharma will retain the option to receive warrants equivalent to 20 per cent of the shares purchased, exercisable at $4.867. . . .

Headquartered in Northern Illinois, Surgimatix Inc is a Michigan-based company specialising in the development of a proprietary soft tissue fixation device for laparoscopic hernia repair and other minimally invasive surgeries. . . .

Now you know. Onward.

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