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Ventracor Administrators Favor Sale To U.S.-based Siqro

This article was originally published in PharmAsia News

Executive Summary

Administrators of Australia's Ventracor, a maker of medical devices, have recommended the company's creditors support selling the company rather than accepting a shareholder solution. U.S.-based Siqro has offered to buy Ventracor's assets and the administrators said that was the better offer. Siqro wants to market Ventracor's VentrAssist heart pump in the United States, and the administrators feel its offer would give creditors full payment of what they are owed. A shareholder group promotes raising funds to make the purchase possible, but administrators questioned the availability of post-sale funds. (Click here for more
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