Laparoscopic imaging technology developer Viking Systems said that it has signed a letter of intent to acquire Tuebingen Scientific Medical of Tuebingen, Germany. Tuebingen Scientific is an early stage medical device company specializing in devices for minimally invasive surgery.
The acquisition of Tuebingen Scientific marks a strategic shift for San Diego-based Viking; however, the combination of Tuebingen’s Radius family of articulating instruments with Viking’s 3Di Vision Systems would provide a complete offering for complex minimally invasive surgery.
Completion of the transaction is subject, among other things, to negotiation and execution of a definitive agreement, due diligence, normal and customary closing conditions, and arrangement by Viking of appropriate financing. The company said it is exploring financing options and assessing its entire capital structure to determine how best to structure its balance sheet, fund the acquisition and provide sufficient operating and growth capital.
Viking indicated that it expects to complete a definitive agreement, the funding, and the acquisition by the end of the current year.