Sandomedics Gets Approval for Sale of Thermomedics Subsidiary, Acquires Brace Shop

Medical technology company Sanomedics has received approval for the sale of its Thermomedics subsidiary and its FDA cleared Caregiver non-contact clinical-grade thermometer to Positive ID Corp. in a  transaction valued at up $2 million in cash, stock and earn-outs.

Additionally, Sanomedics reached an agreement to acquire all of the membership interests of The Brace Shop, a retailer of orthopedic braces, physical therapy and rehabilitation equipment.

Sandomedics will pay $250,000 in cash for the acquisition and issue preferred stock of the company to the owner of Brace Shop. — Michael Cipriano