BATM Advanced Communications Ltd – Hod Hasharon, Israel-based provider of real-time technologies for networking solutions and medical laboratory systems – Announces that ADOR Diagnostics Ltd, an associate company of the group, has secured an investment of USD7.5 million, of which BATM is contributing USD3.5 million.
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Explains half of the investment is being made on the signing of the investment agreement and the remainder will be paid on the completion of milestones over the next six months. Notes following this investment, BATM’s shareholding in ADOR will increase to 43.6%. Moti Nagar, chief executive says:
“We are very excited about the groundbreaking potential of ADOR, which has a technology that is set to truly disrupt the molecular diagnostics market – and is backed by a strong and growing international patent portfolio.”
Current stock price: 22.50 pence
12-month change: down 25%
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