Honolulu-based Kai Medical Inc. will merge with Australian company Novogen Ltd., it was announced today.
Kai Medical makes devices for sleep apnea therapy and wireless respiration monitoring. It was founded by entrepreneur Dustin Shindo, who stepped down as CEO in March of last year. He was succeeded by Bob Nakata, who has served as president and CEO.
Novogen is a biotechnology company based in Sydney, Australia.
The agreement is subject to a number of conditions including completion of due diligence and shareholder approval. Terms of the merger will be revealed to shareholders within the next three weeks.