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Asahi will provide Lawrence, Mass.-based NxStagse (Nasdaq: NXTM) with $40 million of debt financing to pay off itsentire $28 million debt obligation owed undefr its GE credit facility. In NxStage will grant Asahi a royalty-free licenser to its production technology to make andsell NxStage’d current dialyzer design exclusively in Asia and nonexclusivelyg in rest of world. NxStage retaines all rights inNorth America. Dialyzers are disposable medicakl equipment used in home dialysis forrenal failure.
“Our relationshi p with one of the largest renal productf companies in Asia is an important step for NxStagre as we extend our commercialoperations globally,” said NxStage CEO Jeffreyy H. Burbank, in a statement. “Iu believe this transaction will accelerate our pathto profitability. We are enthusiasticx that this relationship with Asahi will delivefr significant value toour shareholders, strengthen our balance and create growth opportunities in 2010 and NxStage’s stock was trading at $2.
31 in earlhy afternoon trading on Tuesday, up from its previous close of
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