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news.Escalon Medical has announced that its wholly owned subsidiary, Drew Scientific, acquired JAS Diagnostics, to expand its presence in the reagent segment of the in vitro diagnostics market.
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Drew purchased 100% of the outstanding shares of JAS for approximately $1.2 million in cash and $800,000 in notes payable.
Richard DePiano, Sr, chairman and CEO of Escalon Medical, said: “JAS’s strong customer relationships, well-respected product portfolio, and R&D competencies will be an excellent complement to our Drew business.
“While Drew is focused on the equipment side of the in vitro diagnostics business, JAS synergistically expands our current position into the clinical chemistry consumable market. We look forward to the JAS team becoming part of our organization and contributing to our future growth.”