SA News • Sep. 19, 2014
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Sep. 19, 2014, 8:05 AM
- Grifols S.A. (NASDAQ:GRFS) (OTCQB:GIFLF) acquires 50% of of Mondragon Health spin-off Kiro Robotics for €21M in cash. Kiro specializes in the automation of machinery for the hospital sector, specifically equipment to automate and control key points of hospital processes like pharmacy. Its lead product is the Kiro Oncology robot which automates the preparation of IV medication for chemotherapy treatment.
- In addition to its monetary investment, Grifols will promote the Kiro Oncology robot in international markets including the U.S. It will commence direct marketing in Spain, Portugal and Latin America in January 2016.
- As part of the deal, Grifols enters into a joint venture with Kiro's other shareholders involving the management of the company.
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