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Response Biomedical of Canada Taken Private by OrbiMed and China IVD Maker

publication date: Jun 16, 2016
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. More details....

Stock Symbols: (TSX: RBM; OTC: RPBIF) (SHA: 603108)

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