Tokyo, May 10, 2012 (JCN) - Asahi Kasei Medical and NxStage Medical, Inc. of the US have concluded an agreement to further strengthen their strategic alliance in the field of hemodialysis which began in May 2009.
As part of the reinforcement of the strategic alliance, AsahiKasei Medical has taken an ownership stake in NxStage Medical through the conversion of all outstanding principal and interest of a loan to NxStage Medical into newly issued shares.
In May 2009, Asahi Kasei Medical provided a four-year loan of US$40 million to NxStage Medical as part of their strategic alliance. All outstanding principal and interest of this loan have been converted to shares of NxStage Medical.
The strategic alliance between Asahi Kasei Medical and NxStage Medical combines the complimentary strengths of the two partners in superior competitive technology, product development capability, and market presence, enabling both companies to accelerate their global growth strategy through mutual synergy.
In addition totheir financial alliance, the two companies have been advancing a project to expand capacity for assembly of dialyzers in Germany utilizing Asahi Kasei Medical's polysulfone hollow-fiber membranes and NxStage Medical's assembly technology. The start-up of joint manufacture of dialyzers is scheduled for this summer.
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