MedChem offer for Frigitronics
Executive Summary
In an unsolicited offer, Medchem is bidding approximately $80 mil. for 75% of Frigitronics. The MedChem proposal is contingent upon a number of factors, including an agreement with Frigitronics' two largest outside shareholders to swap their stock for MedChem shares. Frigitronics currently markets MedChem's hyaluronic acid for use in ophthalmic surgery.