Sun Pharmaceutical Industries has entered into an agreement with Surgimatix, Inc., pursuant to which Sun Pharma has agreed to acquire 16.33% shares of Surgimatix, Inc. for a cash consideration of USD 3.05 million.

Surgimatix, Inc., is a company incorporated in the State of Michigan, having its headquarters and registered office at Illinois, US. The Company is engaged in the business of developing a proprietary soft tissue fixation device for laparoscopic hernia repair and other minimally invasive surgeries. Surgimatix, Inc., is yet to commence its commercial operations.

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