Creo Medical Group PLC (AIM:CREO) is acquiring the final 5% of Albyn Medical it doesn’t own under an earn-out deal agreed at the time of buying the business.
It is handing over €1.2mln for the remaining stake along with €1mln in cash to the vendors after Albyn hit its performance target.
This was the final leg of the agreement which saw Creo take control of the endoscopy products group for an initial €24.8mln in July 2020.
"The complementary acquisition of Albyn Medical has proven to be a strong strategic fit, providing Creo with an established platform that has accelerated the development of our commercial footprint across Europe,” said chief executive Craig Gulliford.