- Leveljump Healthcare (JUMP) is acquiring a major stake in Shaw Lens and Shaw Vision
- The Toronto-based medical diagnostic imaging company is acquiring 23.8 per cent of the issued and outstanding shares of both Shaw Vision and Shaw Lens
- Leveljump acquired the positions from a minority shareholder
- The aggregate purchase price of the all-stock transaction is C$129,500
- Leveljump Healthcare is unchanged, trading at $0.21 at 11:51 am ET
Leveljump Healthcare is acquiring a major stake in Shaw Lens and Shaw Vision.
The Toronto-based medical diagnostic imaging company is acquiring 23.8 per cent of the issued and outstanding shares of both Shaw Vision and Shaw Lens Inc.
Leveljump acquired the positions from a minority shareholder.
The Shaw Acquisition is an arm’s length transaction and there are no finder’s fees payable.
The aggregate purchase price of the Shaw Acquisition is C$129,500 and will be paid entirely through issuing stock and purchase warrants.
The acquisition has been approved by the boards of Shaw Vision and Shaw Lens.
Closing of the transaction is subject to the final consent of the TSX Venture Exchange.
Shaw Lens holds a U.S. patent-protected lens technology that can solve a condition for people who wear glasses, known as aniseikonia, a condition that causes each eye to perceive the size of objects differently.
“The Shaw Lens has proven to be effective with positive feedback from both doctors and patients. We believe the keys to success are to work with the Shaw Lens management team, in order to expand the company and improve its operating systems. We would like to increase sales and marketing efforts to ensure that all optometrists are aware of the product and begin offering the lens to patients, and to back that up with a stable production effort and supply,” said CEO Mitch Geisler.
The potential market size for corrective lenses for aniseikonia is over 800 million people that may be currently living with some degree of aniseikonia and its relative effects.
Leveljump Healthcare is unchanged, trading at $0.21 at 11:51 am ET.
