The total purchase price is $215 million. Home Diagnostics share closed Tuesday at $6.05.
The boards of both companies have approved the deal.
Shareholders owning about 15% of Home Diagnostics' have agreed to tender their shares to the Nipro offer, Home Diagnostics said in a press statement Wednesday.Home Diagnostics is a maker of diabetes testing supplies. Nipro makes medical devices, drug products and medical and glass products. The tender offer is expected to begin next week. -- Reported by Joseph Woelfel in New York. Follow TheStreet.com on Twitter and become a fan on Facebook.