Existing backer Otsuka Holdings has agreed to acquire the remaining shares in portfolio company Recor, the creator of a device that treats hypertension.
US-based medical device maker Recor Medical is set to be acquired by existing shareholder Otsuka Holdings, the parent company of healthcare group Otsuka, and its Otsuka Medical Devices subsidiary.
Neither company disclosed the size of the transaction, which is dependent on approval by Recor’s other shareholders.
Recor Medical has developed a technology dubbed Paradise System that uses a combination of intravascular catheters, water-based cooling and high-intensity ultrasound to treat hypertension, a condition that causes high blood pressure.
The product is…
