Terumo has completed the acquisition of Quirem Medical, a Netherlands-based healthcare startup specializing in the development of selective internal radiation therapy for liver tumors.
Terumo acquired 80.1% of the shares of Quirem Medical, which is more than its current share position of 19.9%. Quirem Medical is now a wholly owned subsidiary of Terumo, and the deal is expected to enhance the company's activities in interventional oncology, according to the firm.
Terumo will make a one-time, upfront payment of $20 million (17.5 million euros) with up to $25 million (21.9 million euros) in additional payments based on the achievement of future milestones by 2030. The acquisition is being funded with cash on hand and will not significantly impact Terumo's financial projections for the current fiscal year, ending 31 March 2021, according to the company.
