8th Oct 2013 07:25
LONDON (Alliance News) - AorTech International PLC Tuesday said that it has settled its dispute with total artificial heat manufacturer SynCardia, regarding the recovery of approximately USD2 million in outstanding debt and related costs from the company.
The holding company, which is engaged in the development and exploitation of a range of biomaterials and medical devices, said that it has resolved its dispute with SynCardia, although the terms of the agreement are confidential.
However, it did say that there will be no adjustment required to its balance sheet as a result of the settlement agreement.
AorTech shares were up 7.1% Tuesday morning, trading at 83.50 pence per share.
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
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