Zhejiang Hisun Pharmaceutical Co Ltd. Acquires Substantially all the Assets of Respirics Inc.
Princeton, New Jersey – Zhejiang Hisun Pharmaceutical Co Ltd, the parent company of Hisun Pharmaceuticals USA, Inc. substantially acquired all of the assets of Respirics Inc.
Included in the acquisition are Acu-Breathe™, a multi-dose breath actuated dry powder inhaler (DPI) device and MD-Turbo®, a companion product designed to assist patients who use metered dose inhalers by making them breath actuated. The latter was approved for marketing in the US in late 2005.
Mark Celeste, formerly CEO of Respirics, joins Hisun Pharmaceuticals USA and will be heading the respiratory business unit. Bob Casper, one of the inventors of the acquired technologies and a founder of Respirics, has been retained on a consultancy basis.
This deal propels Hisun into the respiratory market. Hisun expects to leverage its presence as one of the most prominent pharmaceutical companies in China to rapidly expand the market reach for MD-Turbo® and to further develop the DPI technology.
Scale Finance has provided part-time CFO services to Respirics, Inc.
About Hisun
Hisun is a leading biopharmaceutical group founded in 1954 focused on improving patient wellbeing and quality of life. Hisun has its headquarters in Taizhou (Zhejiang, China). The company operates two sites in the Zhejiang province and established its first international office in Princeton, New Jersey in January 2010. Hisun currently employs over 7000 people of which more than 600 support R&D projects. The company has an extensive portfolio of generic drugs and expanding its technology and new molecular entities portfolio. For more information about Hisun visit www.hisunusa.com
Contacts
Hisun Pharmaceuticals USA, Inc. (www.hisunusa.com)
About Scale Finance
Scale Finance LLC (www.scalefinance.com) provides professional CFO services, Controller solutions, and support in raising capital, or executing M&A transactions, to entrepreneurial companies. The firm specializes in cost-effective financial reporting, budgeting & forecasting, implementing controls, complex modeling, business valuations, and other financial management, and provides strategic help for companies raising growth capital or considering M&A/recapitalization opportunities. Most of the firm’s clients are growing technology, healthcare, business services, consumer, and industrial companies at various stages of development from start-up to tens of millions in annual revenue. Scale Finance LLC has offices in Charlotte, NC, the Triangle, the Triad, Southern Pines, and Wilmington with a team of more than 30 professionals serving more than 100 companies throughout the region.
