ALR Technologies announced today that it entered into a letter of intent to acquire equity and assets of CGM Medical Technology.
The Singapore-based company agreed to acquire 100% equity of CGM Medical Technology Singapore and assets of CGM Medical Technology Shenzhen. Its deal includes an aggregate purchase price of 200 million ordinary shares and $45 million, payable upon the meeting of certain conditions.
ALR Technologies’ deal for the Singapore business includes 200 million of its ordinary shares of, to be issued upon completion of a definitive agreement, and an aggregate of $40,000,000 in the form of an unsecured, non-interest-bearing promissory note payable as an earn out.
Using the licenses, IP, personnel and expertise of CGM Medical Singapore, ALR Technologies plans to build a world-class manufacturing facility in the Johor-Singapore Special Economic Zone (JS-SEZ) at the close of the transaction.
The company agreed to acquire assets of CGM Medical Shenzhen for up to $5 million.
ALR Technologies’ newly acquired businesses specialize in continuous glucose monitors (CGMs) for diabetes management.
Closing of the deals remain subject to several conditions. ALR Technologies expects to enter into a definitive agreement to acquire the Singapore business by July 31, 2026. It then expects to complete the deal on Aug. 31, 2026. For Shenzhen, it expects a definitive agreement by Aug. 31, 2026, and a completion date of Jan. 31, 2027.
Sidney Chan, chair and CEO of ALR Technologies, said:
“The acquisition of CGM Medical will make ALRT a fully integrated diabetes company from start to finish. We will own the intellectual property and technology to produce the continuous glucose monitors (“CGM”) used in the GluCurve Pet CGM and the future human health CGM we will be launching. The acquisition will enable us to increase margins and have full control of our products and services. The expertise of CGM Medical will also contribute to the design, development, and commercialization of other medical devices for diabetes management and additional chronic diseases.”
