Medius Holdings Co., Ltd. said it would buy 172,000 shares of MITAS Inc. for ¥898 million in cash, effective July 1, 2018, Reuters reported.
The deal, priced at ¥4,933 per share, would raise Medius Holdings' stake in MITAS Inc. to 36.8% from 9.5%, the report said.
Following the acquisition, Medius will acquire the namesake MITAS healthcare equipment distributor, a subsidiary of MITAS Inc., and D*sense, another of MITAS Inc.'s subsidiaries.
The company will exchange 1.794 of its shares for one share of the namesake MITAS business and 106.667 of its shares for one D*sense share, according to the report.
Medius Holdings will exchange an aggregate of 778,729 of its shares, effective July 2, 2018, Reuters reported.
As of Dec. 6, US$1 was equivalent to 112.25 Japanese yen.