Roche eyes possible acquisition of Medingo -report - News

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Roche eyes possible acquisition of Medingo -report

By: AFX | 29 Oct 2009 | 10:26 AM ET

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TEL AVIV, Oct 29 (Reuters) - Switzerland's Roche is the company interested in acquiring Israeli medical technology company Medingo, TheMarker financial news website said on Thursday. Israeli technology holding company Elron Electronic Industries Ltd said on Monday a third party had indicated it was interested in buying Medingo, in which Elron holds 92 percent. Elron said the indication related to an acquisition of Medingo for between $150 million and $170 million in cash. An additional cash consideration conditional upon one or more milestones could bring the total amount to between $185 million and $213 million. Medingo developed a miniature insulin dispensing patch pump for insulin-dependent diabetics. A Roche spokesman declined to comment on the report. A spokeswoman for Elron also declined to comment while officials at Medingo were not immediately available for comment. Elron is part of the IDB Holding group. (Reporting by Tova Cohen) (Additional reporting by Sam Cage in Zurich) Keywords: MEDINGO ROCHE/ (telaviv.newsroom@reuters.com; +972-9-899-0222; Reuters Messaging: tova.cohen.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved.

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