1st Oct 2013 08:58
LONDON (Alliance News) - Neurodiagnostic medical technology company, Electrical Geodesics Incorporated, Monday said it has added a portable, pocket-sized 8-channel EEG recorder to its research product range through the purchase of Avatar EEG Solutions Incorporated for a cash consideration of USD325,000.
Avatar is a privately-held Canadian company based in Calgary and was established by engineer Carl Turner who will now work for Geodesics.
Geodesics said Avatar generated sales of USD100,000 in the last twelve months
"As mentioned in our recent interim results announcement, we intend to build a full product offering for neuroscience researchers and clinicians," Geodesics Chief Executive Don Tucker said in a statement.
"The Avatar product is a nice addition to our portfolio, offering an entry level adjunct to our high-end, dense array EEG product range. We are also pleased to secure the skills of Carl Turner who is relocating to Eugene to bring his considerable skills to our product design efforts."
Geodesics is based in Eugene, Oregon, in the US.
Geodesics was trading at 134.75 pence Tuesday, down 0.75 pence or 0.6%.
By Anthony Tshibangu; [email protected]; @AnthonyAllNews
Copyright 2013 Alliance News Limited. All Rights Reserved.
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