25th May 2015, SomnoMed Limited (SOM:ASX) SomnoMed announced today that it has reached agreement with its co-shareholder in SMH Biomaterial AG, Mr. Konrad Hofmann, to acquire his 50% holding in the company.
SMH Biomaterial AG is the producer of SomnoMed’s Flex lining material and the device cleaning material SomTabs which was launched last year. The company was formed in 2007, when it acquired the IP relating to the Flex lining material. The Flex material is exclusively produced for SomnoDent® devices and has superior proprieties when it comes to durability, discolouration and the development of unpleasant odours usually associated with dental devices with other common lining materials used on a regular basis. SMH Biomaterial AG is at an advanced stage of developing next generation materials, which are currently being tested and are expected to be introduced to the market by early 2016.
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