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news.Renato, a Canadian provider of advanced health diagnostic services, has reported that it is in the process of verifying details and completing its due diligence to enter into a joint venture program with an international generic drug manufacturer.
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The joint venture program would include the implementation of six biotech manufacturing centers to be established in strategic locations in Africa. Based on preliminary information provided, each biotech manufacturing plant is expected to produce approximately $36 million in gross revenue.
Once all six manufacturing plants are operational this would account for a forecasted total of approximately $206 million of gross revenues. Renato would share in a percentage of these profits as part of the joint venture agreement.
The company has also decided to cease its ongoing investment negotiations with Tissu. According to the company, the decision was based on lack of adequate information provided during recent discussions. At this time the company believes it is in the best interest of the corporation to remain steadfast in their current core operations in the non-invasive medical diagnostic technology field.