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Micromedic Gains Most in Almost 3 Weeks on Bio Light Deal

Sept. 25 (Bloomberg) -- Micromedic Technologies Ltd. rose to the highest level in almost three weeks, after Bio Light Israeli Life Sciences Investments Ltd. agreed to buy a controlling stake in the developer of biomedical markers.

Micromedic Technologies Ltd. gained 2.9 percent to 2.381 shekels, the highest since Sept. 6. The shares of Bio Light declined 1.9 percent to 0.212 shekel.

Micromedic stock has lost 22 percent this quarter, giving the Ramat Gan, Israel-based company a market value of 35.3 million shekels ($9.5 million).

To contact the reporter on this story: Gwen Ackerman in Jerusalem at gackerman@bloomberg.net

To contact the editor responsible for this story: Claudia Maedler at cmaedler@bloomberg.net

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