Therma Bright Inc. has signed the deal to Benepod, a pain relief technology and other innovative medical device technology from Saringer Life Science Technologies Inc.
FREMONT, CA: Therma Bright Inc. ("Therma Bright") is a developing medical device technology organization. The company is pleased to announce that it has sealed the transaction, which was conducted to acquire Benepod, a pain relief technology and other innovative medical device technology from Saringer Life Science Technologies Inc. ("Saringer" or "SLST Inc."). After completing the final negotiations, Therma purchased the Saringer assets in an all-cash transaction for $425,000.
The transaction consists of acquiring products containing BenePod for chronic pain relief, ICEOtherm for minor aches and pain in the hands, elbows, and feet, and Venowave for increasing the blood circulation in the legs.
Besides, in conjunction with closing this transaction, Therma has also employed important personnel and acquired every inventory, tooling, customer lists, online domains, technical files, quality management systems, and intellectual property like patents and trademarks owned by SLST Inc. and other correlated companies associated with SLST Inc.
As a part of the acquisition plans, it will also consist of a full rebranding exercise, an e-commerce website, and social media strategy. Furthermore, Therma has engaged with New York-based boutique brand consultancy SCG Creative to lead positioning, drive messaging, increase exposure, and deliver brand value.
According to Rob Fia, CEO, they are satisfied to close the acquisition of Saringer's therapeutic treatment products. The company considers that Sarginer has developed a few hidden gems, which they can use to market aggressively on various e-commerce platforms and traditional retail channels. Therma has also saved an enormous amount of time and expense in obtaining Saringer's proven products developed on the company's present suite of novel medical device products.
The company has also announced that according to the company's 10% rolling stock option plan and following the policies of the TSX Venture Exchange, it has granted incentive stock choices to a director of the company for purchasing up to an aggregate of 200,000 common shares of the company. Such opportunities are exercisable for five years at $0.22 per share.