TearLab Announces Acquisition by Accelmed Partners and Related $25M Investment

TearLab Corporation (OTCQB: TEAR), a leader in Ocular Surface Diagnostics, today announced it has entered into a definitive agreement pursuant to which Accelmed Partners II (AP-II) will acquire TearLab. In connection with the acquisition, AP-II has agreed to an investment of $25 million over two tranches that will occur in conjunction with the company delisting from the “over the counter” OTCQB market and TearLab and its senior secured lender, CR Group, has agreed to restructure the terms of the company’s outstanding senior secured indebtedness. Post transaction, TearLab will be a private company and AP-II will be the controlling shareholder. Proceeds from the AP-II investment will be used to pay down a portion of TearLab’s existing debt, and fund both organic and inorganic growth opportunities. TearLab Corporation develops and markets lab-on-a-chip technologies that enable eye care practitioners to improve standard of care by objectively testing for disease bio-markers in tears at the point-of-care.

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Source: https://www.prnewswire.com/news-releases/tearlab-announces-acquisition-by-accelmed-partners-and-related-25-million-investment-301056258.html

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