Escalon Acquires About 94% of Drew Scientific

By Labmedica staff writers
Posted on 06 Oct 2004

The acquisition of approximately 93.7% of the ordinary shares outstanding of Drew Scientific Group plc (Cumbria, UK) has been announced by Escalon Medical Corp. (Wayne, PA, USA). Escalon states that its revised purchase offer is now closed. The company intends to use the procedure established under United Kingdom law to compulsorily acquire any remaining shares of Drew.

Drew Scientific, although UK-based, has additional manufacturing operations in Texas and Connecticut (both in the USA). This diagnostics company specializes in the design, manufacture, sale, and distribution of analytic systems for laboratory testing worldwide. Drew provides instrumentation and consumables for the diagnosis and monitoring of medical disorders in the areas of diabetes, cardiovascular diseases, and hematology, as well as veterinary hematology and blood chemistry

Escalon markets and distributes ophthalmic diagnostics, surgical and pharmaceutical products as well as vascular access devices. The company seeks to further diversity its product line to achieve critical mass in sales and take better advantages of its distribution capabilities through internal product development, acquisitions, or strategic partnerships.

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Escalon