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Richter Signs Agreement to Acquire Giskit MD

Pharma

Image by LaMography/Moni Lazar

Hungarian pharmaceutical company Gedeon Richter on Thursday announced it signed an agreement to purchase Giskit MD, which makes products for tubal patency tests and gynecological ultrasounds, according to a report by state news wire MTI.

Giskit MD, owned by Giskit Holding, an affiliate of IQ Medical, was valued at about EUR 30 million by the parties, payable upon the signing of the agreement, Richter said.

Giskit MD owns ExEm Foam, used during Hysterosalpingo Foam Sonography, and GIS-kit, a procedure pack for performing gel-ultrasounds. The products have been sold for several years in more than 40 countries.

Richter CEO Gábor Orbán said the acquisition was a "perfect fit" for Richter's specialty strategy by expanding its in vitro fertilization portfolio.

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