Medical device and OEM company Millar said today it is selling its lifesciences telemetry product division to New Zealand-based Kaha Sciences.
Houston-based Millar said the divestiture comes as the company looks to focus its efforts on the clinical and OEM business segments in a strategy that emerged earlier this year.
Kaha Sciences has picked up a handful of Millar telemetry staff to support the product line, the company said. The divestiture deal is expected to be complete by December 31.
“Millar is fully committed to developing novel clinical devices for the heart failure and structural heart markets, while improving its MEMS pressure sensor and wireless technology platforms for integration into partner companies’ devices with the potential to impact a thousand times more patients than Millar can reach on its own. The transition of the telemetry product to Kaha Sciences ensures that our customers are fully supported going forward and enables continued innovation in the basic sciences market,” CEO Tim Daugherty said in a prepared statement.
In March, Millar said it inked an agreement with digital medtech company Endotronix granting it exclusive rights to its wireless MEMS sensor technology for use in neurosurgical devices.