PERTH: Medical technology company, HeraMED Limited has entered into a cooperation agreement with leading midwife service provider, Kinderheldin GmbH and existing distributor, Duttenhofer Group. Kinderheldin are a leading midwife service provider, based in Berlin. The group has developed a web based, online platform that offers expecting parents access to midwives through online chat or telephone….
Glycotest receives $3mn second tranche of $10mn Series A financing
NEW YORK: Glycotest, Inc., a diagnostics company commercializing new and unique blood tests for life threatening liver cancers and fibrosis-cirrhosis, has received the second $3 million tranche of the $10 million Series A financing round from Shanghai Fosun Pharmaceutical Co., Ltd. The focus of this strategic investment is the advancement of the HCC Panel toward…
Chemring Group to sell its US subsidiary for $17 million to Nammo
LONDON, UK: Chemring Group announced that a conditional agreement has been entered into for the sale of its US subsidiary Chemring Ordnance, Inc. to Nammo Defense Systems Inc. for a cash consideration of $17 million. The consideration will be paid in cash on completion, subject to a working capital adjustment. This sale completes the Group’s…
Exploration campaigns commences at Manora Oil Field in Thailand
PERTH, AUSTRALIA: The Manora Oil Field (Northern Gulf of Thailand) Operator, Mubadala Petroleum, and Tap Oil Limited have approved the drilling of three firm exploration wells and an appraisal side-track, contingent upon exploration success. Tap Oil holds 30% interest in the oil field. Mobilisation operations commenced on 17 November 2019 with the Ensco 115 jackup…
Chinese National Medical Product Administration (NMPA) approves Penthrox IND
PERTH: Medical Developments International Limited (MVP) announced the Chinese National Medical Product Administration (NMPA) has approved the opening of MVP’s Investigative New Drug (IND) application. This application is a critical step and building block to having Penthrox approved for sale in China. MVP’s submission in China is to have Penthrox approved for two separate indications….
Petrofac signs pact to acquire entry-level position in US onshore Operations and Maintenance market
LONDON: Petrofac Limited has signed a Sale and Purchase Agreement with the shareholders of W&W Energy Services to acquire an entry-level position in the US onshore Operations and Maintenance market. W&W offers Maintenance, Repair & Overhaul and Pipeline tie-in services in the Permian Basin, the world’s largest producing basin. This bolt-on acquisition is in line…
Rostelecom signs strategic partnership with VTB Bank
MOSCOW: Rostelecom PJSC has signed a strategic partnership memorandum with VTB to facilitate cooperation in the area of big data. The document was signed by the President and Chairman of VTB Bank Andrey Kostin and Mikhail Oseevsky, President of Rostelecom, at the 11th annual VTB Capital “RUSSIA CALLING!” investment forum. Rostelecom and VTB will set…
WANdisco signs master distributor contract with Micro-D for Africa
LONDON: WANdisco Plc has secured a contract with Micro-D, one of Africa’s most established IT companies. WANdisco is the live data company for machine learning and AI. The distributor agreement will initially see the Company’s patented Fusion platform deployed across key enterprises in the region. Through its network of resellers and partners, Micro-D will deploy…
Naveena achieves financial close for its 50MW wind farm
KARACHI: The Naveena Group has announced that it has achieved financial close for its 50 MW wind power project being setup in Jhimpir with a cost of $63.9 million. The project will provide the cheapest electricity to the consumers at a price of US cents 4.7154/kwh from a platform of clean and green energy. The…
Etihad Etisalat signs SAR3bn financing agreement with Alinma Bank
RIYADH: Etihad Etisalat Co. (Mobily) has announced the signing of SAR 3 billion financing agreement with Alinma Bank to replace existing debt. The duration of the financing is 10 years, which will be utilized to replace the existing financing, and for the general corporate purpose including capital expenditure. This financing is part of the company…
Paula Jeffs appointed to Ryman Healthcare’s board
WELLINGTON: Ryman Healthcare has announced the appointment of Melbourne-based human resources executive with experience across the healthcare, financial and government sectors, Paula Jeffs to the company’s board. Ryman Chairman Dr David Kerr said her appointment strengthened the board in the critical areas of people, team development and talent identification. “We’re a high growth business and…
AM Best revises outlooks to negative for Slavonic Mutual Group’s Members
OLDWICK: AM Best has revised the outlooks to negative from stable and affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Ratings of “a-” of Slavonic Mutual Fire Insurance Association and its wholly owned subsidiary, Slavonic Insurance Company of Texas. Both companies are domiciled in Rosenberg, TX. These companies are collectively…