Thursday, April 20, 2006

Market Watch: New Zealand Apitherapy Company Takes on Debt

Comvita Takes on Debt for Bigger Stake in US Partner
The New Zealand Herald, 4/20/2006

NZAX-listed health products maker Comvita has taken on more debt to buy an extra US$1 million ($1.6 million) stake in American partner Derma Sciences.

The money will be used to support Derma's US$6.5 million purchase of Western Medical, a United States-based maker and marketer of medical textile dressing.

The latest equity stake with attached warrants could take Comvita's stake in Derma to 10 per cent…

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