Belluscura shakes things up

LONDON and PLANO, Texas – Belluscura has announced a possible acquisition and has made a change to its executive leadership. 

Belluscura has reached an agreement with TMT Acquisitions, a London-based acquisition vehicle in the technology, media and telecommunications sector, on the key terms of a possible share-for-share offer for the company, in a deal that would be valued at EUR 6 million. Belluscura will use the deal, which includes a $100,000 break-up fee, to help grow its portable oxygen concentrator business globally. 

In a release, Belluscura described the deal as “a compelling combination which significantly increases Belluscura’s ability to execute on its burgeoning sales pipeline and strategy, creating considerable value for all stakeholders of both TMT Acquisition and Belluscura.” 

Belluscura has also announced that Simon Neicheril has replaced Tony Dyer as CFO, effective immediately. He has more than 20 years of experience in a range of senior finance and CFO roles, and joins from manufacturing company Pace Industries, where he served as interim CFO. He was previously CFO of GlobalStep, a global software testing company. 

"We are pleased to have Simon join the company as we expand operations in the U.S. and globally,” said Adam Reynolds, chairman. “We greatly appreciate the hard work and dedication of Tony and are pleased he is staying with the company on a part-time basis." 

Belluscura in September received approval from the Hong Kong Department of Health – Medical Device Division to distribute its X-PLOR portable oxygen concentrator.