China's Sinocare to acquire PTS Diagnostics in the US
03-May-16, GlobeNewswire
Sinocare Inc (San Nuo Sheng Wu), announced it has signed a definitive purchase agreement with privately-held PTS Diagnostics, under which Sinocare will acquire PTS Diagnostics for up to $200 million in cash.
PTS Diagnostics is a U.S.-based manufacturer of point-of-care biometric testing devices, including the CardioChek® family of analyzers, A1CNow® systems, and PTS Detect™ cotinine systems. The company’s manufacturing facilities are principally located in Indianapolis, IN and Sunnyvale, CA.
%20Sinocare%20Inc..jpg "Chinas Sinocare to acquire PTS Diagnostics in the US (c) Sinocare Inc")
Image: Sinocare Inc.
Shaobo Li, Chairman and CEO of Sinocare commented, “Sinocare is dedicated to the innovation of biosensor technology... Through continuous innovation, PTS Diagnostics has become the market leader of lipid, A1C and other important point of care biometric testing. We know Sinocare and PTS Diagnostics have a shared vision and mission to improve the quality of life for our users... We will continue to grow our business and explore opportunities globally.”
"We are quite pleased and excited by the many future opportunities that now open for us as a part of the Sinocare, as together we will greatly expand our mutual global reach... together we will make our various solutions available to a much larger customer base, driving action and connecting more people to improved outcomes,” said Robert Huffstodt, President and CEO of PTS Diagnostics.