29th Apr 2016 11:47
LONDON (Alliance News) - Investment company Imperial Innovations Group PLC on Friday said portfolio company SIW Holdings Ltd has been sold to US medical technologies company Stryker Corp for GBP35.6 million.
SIW is the holding company of Stanmore Implants Worldwide Ltd, an orthopaedics firm focused on designing implants for complex orthopaedic reconstructions.
Prior to the sale, Imperial held a 16.4% stake in SIW and will get net proceeds of GBP4.8 million from the deal. That will represent a GBP1.4 million gain on Imperial's investment, it said.
Shares in Imperial were up 4.9% to 394.75 pence Friday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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