Uroplasty Inc. Completes Vision-Sciences Merger, Changes Name

Minneapolis, Minn.-based Uroplasty Inc. and Organgeburg, N.Y.-based Vision-Sciences Inc. completed their merger. The merger was announced in December. The deal was structured as an all-stock combination

Under the terms of the agreement, which was unanimously approved by the boards of directors of both companies, each outstanding share of Uroplasty’s common stock will be exchanged for 3.6331 shares of Vision-Sciences’ common stock. With the completion of the merger, Uroplasty shareholders own 62.5 percent of the shares of the combined company on a fully-diluted basis, and Vision-Sciences shareholders own 37.5 percent.

As a result of the merger, the combined company also takes on a new name: Cogentix Medical Inc. 

As of April 1,  the newly named firm began trading on Nasdaq under the symbol CGNT. Cogentix Medical will have its U.S. headquarters in Minnetonka, Minn., where Uroplasty’s headquarters was located.

“The completion of our merger with Vision-Sciences and the creation of Cogentix Medical marks another milestone on our path to accelerating revenue growth and broadening our product offerings to our physician clients,” said Rob Kill, President and CEO of Cogentix. “We remain highly confident in the future growth prospects for Cogentix Medical and look forward to working with the team members of the former Vision-Sciences to complete our integration plans and to realize the significant synergies the merger is expected to create.”

Cogentix Medical is expected to generate revenue of approximately $50 million for the fiscal year beginning April 1

Cogentix Medical has operations in Minnesota, New York, Massachusetts, the Netherlands and the United Kingdom, The company makes products for flexible endoscopy with product lines featuring a streamlined visualization system and proprietary sterile disposable microbial barrier, known as EndoSheath technology. Other technology includes the Urgent PC Neuromodulation System, a device that delivers percutaneous tibial nerve stimulation for the office-based treatment of overactive bladder, and Macroplastique, an injectable urethral bulking agent for the treatment of adult female stress urinary incontinence primarily due to intrinsic sphincter deficiency.