Capnia Acquires Neonatal Pulmonary Resuscitation Solutions From NeoForce Group, Inc.
Acquisition Strengthens Capnia's Presence in Neonatology
NeoForce President and Chief Executive Officer to Join Capnia as General Manager of Neonatology
REDWOOD CITY, Calif., Sept. 8, 2015 -- Capnia, Inc. (CAPN), focused on the development and commercialization of novel products based on its proprietary technologies for precision metering of gas flow, today announced that it has acquired substantially all assets from privately-held NeoForce Group, Inc., a developer of innovative pulmonary resuscitation solutions for the inpatient and ambulatory neonatal markets.
Under the terms of the agreement, Capnia will pay to NeoForce a $1.0 million upfront payment, which represents less than one times of NeoForce's 12-month forward looking revenue, plus a low single-digit royalty on sales of NeoForce products for a period of 36 months. NeoForce's currently marketed products include the NeoPIP(TM) Infant T-Piece Resuscitator and the CPRNome Resuscitation Timer.
- Published: 08 September 2015
- Written by Editor