Canada-based healthcare supplies maker Ergoresearch Ltd. has completed its transaction to go private by combining with a company controlled by Walter Capital Partners Inc. in partnership with Sylvain Boucher and Danielle Boucher.
Sylvain Boucher is the president and CEO of Ergoresearch, while Danielle Boucher serves as vice president at the company. Sylvain Boucher will remain president and CEO of the company, which will continue to be headquartered in Laval, Quebec.
For each Ergoresearch shares, shareholders have received a redeemable preferred share of the new corporation and immediately after their issuance, each redeemable preferred share was redeemed for 30 Canadian cents in cash.
The company has applied to delist its common shares from the TSX Venture Exchange, and the shares are expected to be delisted on or about Feb. 27.
Ergoresearch designs and manufactures medical equipment for the orthopedic market.