Business Kai Medical agrees to merge with Australian firm By Star-Advertiser staff July 28, 2012 Mahalo for supporting Honolulu Star-Advertiser. Enjoy this free story! Read more Mahalo for reading the Honolulu Star-Advertiser! You're reading a premium story. Read the full story with our Print & Digital Subscription. Subscribe Now Read this story for free: Watch an ad or complete a survey Log In Already a subscriber? Log in now to continue reading this story. Activate Digital Account Print subscriber but without online access? Activate your Digital Account now. Honolulu-based Kai Medical Inc. will merge with Novogen Ltd., a biotechnology company based in Sydney, the companies said Friday. Kai Medical, founded in 2006, makes devices for sleep apnea therapy and wireless respiration monitoring. It was founded by serial entrepreneur Dustin Shindo, who stepped down as CEO in March 2011. He was succeeded by Bob Nakata. The agreement is subject to shareholder approval. Terms of the merger will be revealed to shareholders within the next three weeks. Kai Medical’s Kai Apnea device recently received a CE marking — a key regulatory approval needed for sales in most of the world. The company expects the sleep apnea device will lead to strong growth in the coming years. Besides the sleep apnea product, the company, headquartered in the Central Pacific Bank Building at 3465 Waialae Ave., had previously launched a wireless vital signs monitoring device in Europe and received FDA clearance in 2010 to sell its original technology, Kai Spot, which periodically checks a patient’s breathing in spot measurements. Previous Story Business Briefs Next Story Tourism hiring up 'tremendously'