3rd November 2015, SomnoMed Limited (SOM:ASX) announced today that its subsidiary SomnoMed Canada Inc. acquired the business of Strong Dental (“SD”) in Leamington, Ontario, Canada for a consideration of C$700k, including the transfer of certain lease liabilities. The acquisition covers all tangible and intangible assets of SD, an exclusive license to all patents linked to devices made by SD for the treatment of sleep disordered breathing and the employment of key staff. The owner, Mr. Patrick Strong, has entered into a consultancy agreement and he will be responsible for overseeing the day to day operations of SomnoMed Canada Inc.
Patrick Strong is the inventor of the SUAD device, which is manufactured by SD and distributed by it in the US and Canada. These oral appliances for the treatment of sleep disordered breathing conditions are well known amongst dentists treating obstructive sleep apnea patients and are used especially for patients whose health conditions require a specialised device.
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