Medisys announced the conditional disposal of the whole of its operating businesses comprising primarily its Blood Glucose Monitoring business for a consideration of $42.8m (approximately £24.2m) in cash, subject to shareholder approval. Medisys is to become an investment company seeking to invest or co-invest in companies operating in the areas of medical devices, diagnostics, bio pharmaceuticals and health care. The sale will enable Medisys to realise significant value and provide the company with a substantial amount of cash to re-invest in companies the Directors identify as having sizable market opportunity. Increased competitive environment in the BGM market has put severe constraints on Medisys' working capital. Part of the sale proceeds will be applied to settle Medisys' term note loan facility of $9.75m (approximately £5.5m) and overdraft facility of $4.25m (approximately £2.4m) with Bank of Scotland plc. Following repayment of these facilities Medisys will be debt free. Medisys is to concentrate its resources on seeking opportunities to invest in companies which operate in the areas of medical devices, diagnostics, bio pharmaceuticals and health care.