Japan’s Nipro Corp (TYO: 8086) has agreed to acquire Infraredx Inc, a cardiovascular imaging company focused on the diagnosis of coronary artery disease. Infraredx, which is based in Burlington, Massachusetts, is a portfolio investment of Canadian specialty finance firm Difference Capital Financial (DCF). DCF invested US$5 million in convertible debentures of the company and said it expects to receive about that amount from the deal, subject to certain conditions. Earlier this month, DCF sold its majority interest in WorldGaming.
Difference Capital Announces Nipro Corporation Has Signed a Definitive Agreement to Acquire Infraredx, Inc.
TORONTO, CANADA – September 24, 2015 – Difference Capital Financial Inc. (“DCF” or the “Company”) (TSX:DCF)(TSX:DCF.DB) announces that Nipro Corporation (TYO:8086) has signed a definitive agreement to acquire Infraredx, Inc., a DCF portfolio company. Infraredx, Inc. is an intravascular imaging company committed to advancing the diagnosis and management of coronary artery disease globally.
DCF had invested US$5.0 million in convertible debentures of Infraredx, Inc. and expects to receive approximately that amount from the transaction, subject to certain conditions being met.
About Difference Capital Financial Inc.
Difference Capital Financial Inc. invests in and advises growth companies. We leverage our capital market expertise to help unlock the value in technology, media and healthcare companies as they approach important milestones in their business lifecycle. Difference Capital Financial Inc.’s common shares and convertible debentures are traded on the Toronto Stock Exchange under the symbols “DCF” and “DCF.DB”, respectively.
About Infraredx, Inc.
Founded in 1999, Infraredx, Inc., is a privately-funded medical device company dedicated to helping provide practitioners with the information needed for enhanced clinical decision making for the treatment of coronary artery disease. The company is committed to improving the safety and efficacy of coronary stenting and ultimately serving as part of a strategy to prevent initial coronary events. Through its TVC Imaging System™, Infraredx is changing the way coronary artery disease is diagnosed and treated.
About Nipro Corporation
Nipro Corporation, headquartered in Osaka, Japan, has been a world leader in providing medical products to the healthcare community for over 60 years. In addition to Nipro-branded products, Nipro provides manufacturing support to some of the biggest names in the medical field.
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Chief Executive Officer
Photo courtesy of Infraredx Inc