FORT LAUDERDALE, Fla. ( TheStreet) -- Home Diagnostics ( HDIX) has reached an agreement to be acquired for $11.50 a share, a premium of 90% to its closing stock price on Tuesday, by Japan's Nipro.

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.

More from Stocks

Inside Carnival's Mind Blowing New Horizon Cruise Ship (Video)

Inside Carnival's Mind Blowing New Horizon Cruise Ship (Video)

Neel Kashkari: The Heart of Our Financial System Is More Radioactive Than Ever

Neel Kashkari: The Heart of Our Financial System Is More Radioactive Than Ever

Finding Stocks Right for You: Cramer's 'Mad Money' Recap (Friday 8/25/18)

Finding Stocks Right for You: Cramer's 'Mad Money' Recap (Friday 8/25/18)

Flashback Friday: Amazon, Chip Stocks, Memorial Day

Flashback Friday: Amazon, Chip Stocks, Memorial Day

Week Ahead: Wall Street Looks to Jobs Report as North Korea Meeting Less Certain

Week Ahead: Wall Street Looks to Jobs Report as North Korea Meeting Less Certain