Rita and Horizon close merger deal:
This article was originally published in Clinica
Oncology device manufacturers, Rita Medical Systems and Horizon Medical Products, have completed their merger. Horizon shareholders will receive 0.4212 newly issued shares of Rita common stock for every Horizon stock they hold. The companies first announced their intention to merge in May (see Clinica No 1108, p 18). It is hoped that the integration will generate cost savings and boost sales volumes, moving the company back into profitability. The combined company, operating under the name Rita Medical Systems, is headquartered in Mountain View, California.
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