HEI drops fight for Colorado MEDtech:
This article was originally published in Clinica
HEI is abandoning its attempt to buy Colorado MEDtech a month after initiating an unfriendly takeover bid (see Clinica No 926, p 11). The company cited negative market conditions, the possibility of legal claims against Colorado MEDtech by a former shareholder of a subsidiary, and Colorado's continued refusal to discuss a sale or other options as the reasons for its decision. The Minneapolis, Minnesota HEI has also voluntarily dismissed a lawsuit, without prejudice, against the Boulder, Colorado company. HEI is Colorado's largest shareholder with a 9.9% holding.