AorTech International plc (AIM:AOR) entered into a conditional agreement top acquire RUA Medical Devices Limited from David Richmond for £2.1 million on March 11, 2020. Out of total consideration, £0.95 million will be paid in cash and the balance amount will be paid by the allotment and issue of 1.5 million new ordinary shares of AorTech International. Cash element of the consideration will be satisfied from AorTech International's existing resources. RUA Medical will remain a full-service medical device subcontract manufacturer. Following completion, AorTech International intends to restructure its business into four distinct trading subsidiaries, with AorTech (to be renamed RUA Life Sciences plc) as the holding company. For the year ended 30 April 2019, RUA generated unaudited revenues of £1.61 million and net assets of £1.17 million. Immediately following completion, it is proposed that David Richmond, a Non-Executive Director of AorTech International and sole shareholder of RUA, will become Group's Chief Executive Officer. Caroline Stretton, currently RUA's Chief Executive Officer, will become enlarged group's Chief Operating Officer. Eilidh Callan, RUA's Director of Operations and Matthew Litton, RUA's Director of R&D, will become key members of enlarged group's senior management team. The acquisition is conditional on approval of shareholders of AorTech International plc. The acquisition had been unanimously recommended by the Board of Directors of AorTech International. The acquisition is expected to complete on April 1, 2020. Tom Griffiths and David Coaten of Shore Capital and Corporate Limited acted as nominated financial advisor and Davidson Chalmers LLP acted as legal advisor for AorTech International. Laura McKnight, David Beveridge and Ian Anderson of Macdonald Henderson acted as legal advisors and Iain D Sim + Co acted as an accountant to RUA Medical Devices Limited. AorTech International plc (AIM:AOR) completed the acquisition of RUA Medical Devices Limited from David Richmond on April 1, 2020.