Sanvita CBGM Completes Acquisition Of Assets of CCS Medical’s Subsidiary

Nova Biomedical has revealed that its independent, wholly-owned subsidiary, Sanvita CBGM, has completed the acquisition of certain assets of Sanvita, a subsidiary of CCS Medical.

The company said that through this transaction, its Consumer Blood Glucose Monitoring (CBGM) subsidiary has become the exclusive distributor of the NovaMax consumer blood glucose product line in the US.

The company said that the additional information regarding the transaction has been filed with the US Bankruptcy Court for the District of Delaware.

Francis Manganaro, president and CEO of Nova Biomedical, said: “We are excited to have completed the highly complementary acquisition of these assets of Sanvita which allows our CBGM subsidiary to assume full control of the distribution of our NovaMax brand. We are confident that this transaction better positions Nova Biomedical and Sanvita CBGM to streamline the development and delivery of NovaMax products for the benefit of customers.

“Together with the recent success of Nova Biomedical’s hospital glucose monitor business, StatStrip, the company is better positioned to further improve its overall glucose monitoring business. We also look forward to continuing our partnership with CCS Medical and to a seamless integration of the NovaMax distribution business into Sanvita CBGM.”