On June 27, 2016, Prism Medical Ltd and Handicare Group AB announced that they entered into an arrangement agreement pursuant to which Handicare will acquire all of the outstanding common shares of Prism Medical for a total equity purchase price of approximately C$62 million, on a fully diluted basis.Pursuant to the arrangement agreement, shareholders of Prism Medical will receive C$12.50 in cash for each Prism Medical share. The transaction will be carried out by way of a court approved plan of arrangement under the Business Corporations Act (Ontario) and will require the approval of, among others, (i) the holders of at least 66 2/3% of the Prism Medical shares, and (ii) a majority of minority shareholders, at a special meeting of Prism Medical shareholders, expected to be held before the end of August, 2016. Handicare is a Sweden based company which supplies technical aids for the elderly and physically disabled. Its products include stairlifts, transfer and lifting products, automobile adaptation solutions and homecare products. Prism Medical is a vertically integrated manufacturer and leading provider of equipment and services used to move and handle mobility challenged individuals in a safe and dignified manner.As announced on August 4, 2016, Prism Medical and Handicare Group entered into an amendment agreement under which the consideration for the transaction was revised to CAD $14 per share of Prism Medical. Handicare AB completed the acquisition of Prism Medical Ltd. (TSXV:PM) on August 31, 2016. The Prism Medical common shares were delisted from the TSX Venture Exchange shortly thereafter. Fasken Martineau advised Handicare Group AB, with a team led by Neil Kravitz, that included Jessica Catton Rinalidi and David Steinhauer (M&A), Dev Singh (financing), David Hausman (litigation), and Huy Do (regulatory matters) and Lu Chen. For more information, click here.