India, Feb. 13 -- image credit- freepik

Alkem MedTech, a wholly-owned medical devices subsidiary of Alkem Laboratories, has announced the execution of a binding offer for acquiring a majority stake in Occlutech Holding AG, a global medical devices company, headquartered in Switzerland, specialising in minimally invasive cardiac implants.

Alkem MedTech intends to buy up to 55% stake in Occlutech for a consideration of EUR 99.4 million (Approx. Rs 1,074 crore), subject to statutory approvals. This acquisition represents a significant step in Alkem MedTech's journey to build a global footprint and enables its entry into advanced cardiovascular devices.

Occlutech develops, manufactures, and commercialises medical devices for congenital hea...