| Decision | Consent granted Section 13(1)(a) of the Overseas Investment Act 2005 |
|---|---|
| Decision maker | Toitū Te Whenua Land Information New Zealand |
| Decision date | 30 January 2024 |
| Pathway(s) | Significant business assets |
| Investment | Acquisition of up to 100% of the shares in Volpara Health Technologies Limited |
| Consideration | $320,000,000 |
| Applicant | Lunit Inc. South Korea (86%) United States of America (10%) Japan (2%) Various (2%) |
| Vendor | Health Technologies Limited New Zealand (100%) |
| Background | The Applicant develops and manufactures artificial intelligence enabled cancer and disease detection software and devices used at over 2,000 sites globally. The Applicant seeks consent to acquire 100% of the Vendor’s shares under a scheme of arrangement pursuant to Part 15 of the Companies Act 1993. The Vendor develops software and imaging products for early detection of breast and lung cancer. Consent was granted as the Applicant met the investor test criterion. |
| More information | Annie Steel Harmos Horton Lusk Limited Level 33, Vero Centre 48 Shortland Street Auckland 1010 |