Cash-strapped Arthro Kinetics in possible takeover talks
This article was originally published in Clinica
Orthopaedics firm Arthro Kinetics has confirmed that it is in preliminary discussions for a potential takeover offer. The Macclesfield, UK-based firm said in its half-year results (issued on September 29) that despite having achieved its targeted cash position of €3.5m ($5m), the company has insufficient funds to support operations through 2009. At the close of the London Stock Exchange on September 29, Arthro Kinetics’ share price reached 2.6p per share, its lowest price since it listed in March 2006. For the first half of 2008, the company recorded a 29% increase in revenue to €1.5m, while pre-tax loss narrowed from €2.7 in H1 2007 to €1.5m.
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