Montreal Gazette - June 17, 2009
Thought i'd share this one, looks interesting !
https://www.montrealgazette.com/Health/Bend+like+Victhom/1703242/story.html
In April, Victhom signed a joint-venture pact with Germany's Otto Bock HealthCare Gmbh to bring the Power Knee and other neuromodulation products, including Neurostep, to market. Otto Bock is a world leader in prosthetic and orthotic products.
Victhom is putting its Neurobionix Division into the joint venture, called Neurostream Technologies, for a 44.4-per-cent stake while Otto Bock is providing an initial $12.5 million for 55.6 per cent. Otto Bock will put up a total of $30 million over 30 months, which will be used for product development. Victhom is converting $18.35 million of debentures that are due next March into a new class of preferred shares.
Victhom spent $10.1 million on research last year, up 18.6 per cent from 2007, mostly because of work developing the commercial Power Knee and its Neurostep implantable technology. Research spending will be heavy again this year.
Both shareholders and debenture-holders, at separate meetings yesterday, approved the structural changes and financing.
"Both shareholders and debenture-holders are onside and we've created the foundation that will allow us to bring products from both the Biotronix and Neurobionics divisions to market and build a significant and profitable business," Rivard said.