Radiology Business February 23, 2024
After lengthy delays and a lawsuit from one involved party, an ultrasound developer is finally moving forward with a merger.
The deal dates to December 2022, when QT Imaging first started discussing a sale to investment firm GigCapital. Both sides had originally hoped to execute the transaction by mid-2023, with the combined company carrying an equity value of $151 million.
However, talks have stalled and in September, GigCapital filed suit, trying to force the deal to move forward. At the time, it accused Novato, California-based QT Imaging of engaging in discussions with a third party that were “contrary to the exclusivity provision” of their agreement.
But things now appear back on track, with shareholders voting to approve the proposed business...
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