The share surged on news that the company is in advanced negotiations with a potential investor.
MCS Medical Compression Systems (DBN) Ltd. (TASE:MDCL) saw its share surge 56% today, having already risen 14% and 16% on Wednesday and Thursday of last week.
The medical device company, which develops non-invasive compression systems to prevent blood clots in the limbs, today announced that it was in advanced negotiations with a potential investor who would pay NIS 8 million for 26.1% of the company.
If the deal were to go ahead the new investor would be paying NIS 0.97 per share even though MCS' share was worth NIS 0.98 when trading began last Wednesday. The company has a market cap of NIS 40 million.
Published by Globes [online], Israel business news - www.globes-online.com - on March 22, 2009
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