Uroplasty and Vision-Sciences entered into a definitive merger agreement.
Under the agreement, the two companies will combine in an all-stock transaction to create a new company. Each outstanding share of Uroplasty's common stock will be exchanged for 3.6331 shares of Vision-Sciences' common stock. Additionally, Uroplasty and Vision-Sciences' U.S. sales teams will market Vision-Sciences' proprietary EndoSheath Endoscopy technology platform.
The transaction is expected to close in the first half of 2015, and the combined company will conduct business as Cogentix Medical.
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