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Dr. Phillip Frost’s , Opko Health (NYSE: OPK) , revealed that it agreed to pay $10 million for the Israeli Inspiro Medical, a next generation dry powder inhaler to treat respiratory disorders. The deal was announsed on April 17, but it didn’t disclose the price at that time. The aquisition is expected to close in the second quarter.
Related Article:
A recent Securities and Exchange Commission filing by Opko Health reviled that Opko would pay Inspiro’s owners $1 million in cash and $9 million in newly issued Opko stock.
At its current price of $8.31 per share, it would take 1.08 million in Opko stock to reach a $9 million value. according to Yahoo! Finance, the company has about 413 million shares outstanding.
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