Devicemaker Kai Medical to merge with biotech Novogen

Hawaii's Kai Medical says it will merge with Australian biotech Novogen ($NVGN), weeks after revealing agreements to sell its apnea therapy devices in Europe, Australia, Hong Kong and elsewhere. Financial details aren't being disclosed, but shareholders at Novogen are expected to vote on the matter in mid-September, the companies stated. Kai Medical, which is based in Honolulu, also makes wireless devices designed to measure and monitor respiration. Once the merger is complete, the combined company will be called Kai Medical Holdings. Story