JAS Diagnostics Purchased by Escalon Subsidiary
Escalon Medical Corporation announced that their subsidiary, Drew Scientific, Incorporated, has acquired JAS Diagnostics, Incorporated. Drew made the purchase for $1.2 million in cash. An additional $800,000 will be delivered in notes payable.
JAS develops class I and II in vitro diagnostic (IVD) reagents. The company offers an array of liquid stable, diagnostic chemistry reagents for IVD testing. The majority of the products are available in single-vial stable to support use. This also speeds delivery of results and extended on-board stability.
Purchase of JAS meets Escalon’s goal of expanding their presence in the IVD market. Drew has generally focused on the development of equipment to support IVD. JAS, alternatively, offers clinical chemistry consumables.
Escalon develops and markets tools for surgery, opthalmology, and pharmaceuticals, as well as devices for vascular access. Drew, alternatively, develops and manufactures consumables and instruments for diagnosis and monitoring. Medical specialties targeted include cardiovascular disease, hematology, and diabetes. The company also offers tools to support veterinary blood chemistry and hematology.
June 9, 2008 Related topics: Mergers & Acquisitions