Prism Medical said on Friday that its shareholders have approved its $62 million acquisition by Handicare after holding a special meeting to cover the acquisition.
Handicare will pick up all outstanding common shares in Prism Medical at the price of $12.50 per share, according to a press release. The company anticipates the acquisition will close by early September 2016.
The company said that the closure is still subject to a final order from the Ontario Superior Court of Justice, which is expected to be sought today, the company said. Prism said it expects the acquisition to close shortly after it receives a response from the Court.
Prism Medical originally announced the Acquisition in June. Canaccord Genuity Corp is acting as financial advisor to Prism Medical during the sale, the company said.
Earlier in June, Prism Medical said its chief financial officer Rose Papastamos is stepping down. The company said it is currently in “advanced negotiations” with a qualified candidate for the position, and expects to finalize the hire this month.
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