Hewlett Packard to pay $61 mil. for 14% stake in i-Stat.
This article was originally published in The Gray Sheet
Executive Summary
HEWLETT PACKARD'S $61 MIL. INVESTMENT IN i-STAT gives HP access to i-Stat's "thin-film" biosensor blood chemistry technology for integration into its OmniCare patient-monitoring system. The two companies announced on June 23 the signing of a strategic alliance -- under negotiation for nearly a year -- calling for HP to purchase 2.1 mil. preferred shares of i-Stat for $28.50 each. The deal will give HP a 14% fully-diluted stake in Princeton, New Jersey-based i-Stat.