Otsuka Medical Devices, Otsuka Holdings & ReCor Medical Announce Signing Of Merger Agreement

Otsuka Holdings Co., Ltd. (Otsuka Holdings), Otsuka Medical Devices Co. (Otsuka Medical Devices), and ReCor Medical, Inc. (ReCor) announced the signing of a merger agreement pursuant to which Otsuka Holdings will acquire the remaining shares in ReCor from its current holders. The transaction is subject to approval by ReCor's shareholders.

Otsuka Holdings' acquisition follows the announcement by ReCor on June 15, 2018 that the U.S. Food and Drug Administration has given its approval to initiate a pivotal clinical study, RADIANCE II, for the evaluation of the Paradise® Renal Denervation System for safe and effective reduction of blood pressure . . .