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ERBA acquires Escalon Medicalís Dx business for $6.5 million
November 2012
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MIAMIóIn a cash deal worth $6.5 million, ERBA Diagnostics Inc. has acquired Escalon Medical Corp.'s Clinical Diagnostics Business, which posted revenues of approximately $13 million in the year ending June 30. The Escalon Clinical Diagnostics Business (ECD) is made up of Drew Scientific Inc., as well as its wholly owned subsidiaries JAS Diagnostics Inc. and Drew Scientific Ltd. Co. ECD manufactures and sells A1c and Hematology diagnostic instruments, reagents and chemistries, while Drew focuses on instruments and consumables for physician office, small hospital and veterinary research laboratories. JAS develops diagnostics chemistry reagents for IVD tests. ECD has facilities in Waterbury, Conn.; Miami Lakes, Fla.; Dallas; and Barrow-in-Furness, United Kingdom. The acquisition was funded by proceeds from an investment of ERBA Mannheim GmbH in ERBA Common Stock.

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