- Avita Medical (AVMXY) divests its respiratory business to Australia-based Medical Developments International (MDI) for $2.64M. The deal includes the Breath-A-Tech and Funhaler, two asthma spacers aimed at optimizing the use of medicinal puffers. Both are currently marketed throughout Australia.
- The transaction, expected to close in February, consists of $2.2M in cash plus either 125K newly issued MDI shares (ASX:MVP) or $0.44M in cash, at MDI's option.
- The divestment will enable Avita to concentrate its resources on its regenerative medicine wound care business.