TIPS - Tianrong Internet announces acquisition target Cambridge Orthopaedic Labs

Tianrong Internet Products and Services (OTCPK:TIPS -4.9%) announced that it has selected Cambridge Orthopaedic Labs (COL) as its next equity acquisition candidate. COL is a medical device company that has developed an innovative non-invasive external fixator for the treatment of broken bones, focusing initially on wrist fractures, which COL management anticipates obtaining US FDA approval as a class 1 device in 1H22 ahead of a U.S. market launch later in the year. Financial terms were not disclosed. TIPS' majority shareholder, Wilton, has been working with COL across 2021 to promote the company's £3.5M fundraising round. "This is only the first of a dozen or so acquisitions, equity stake holdings and investments that TIPS has in the pipeline. We expect 2022 to be a banner year for the company and all of our shareholders," management statement indicated.

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Tianrong Internet announces acquisition target, Cambridge Orthopaedic Labs