Transasia Bio-Medicals Acquires Two US-Based Companies

Transasia Bio-Medicals Ltd. (Mumbai, India), an in vitro diagnostics company (IVD), has acquired two US based companies–Drew Scientific and JAS Diagnostics Inc. from Escalon Medical Corp. The acquisition was made through Transasia’s subsidiary, Erba Diagnostics, USA. It has acquired the entire business assets including plant and intellectual assets, which will become a direct wholly owned subsidiary of Erba Diagnostics. Escalon sold its Clinical Diagnostics Business to Erba for USD 6.5 million in cash. This is the fifth acquisition made by Transasia in the year 2012.

Drew Scientific manufactures and sells hemoglobin analyzers for monitoring diabetes (HbA1c), a range of blood cell counters for clinical, veterinary, and research use, and related reagents and controls worldwide. Transasia Group’s acquisition of Drew marks its entry in the fast growing segment of diabetes management.

JAS Diagnostics Inc. is a manufacturer of clinical chemistry reagents. It supplies chemistry reagents that it has developed through its own indigenous R&D. It offers solutions in different formats of systems––packs, liquid reagents, and powder reagents.

Mr. Suresh Vazirani, chairman and managing director, Transasia Bio-Medicals Ltd, stated that, “The acquisition was a natural consequence of its focus on the challenges posed by the vast and fast growing diabetes monitoring segment.” He added, “It is also to address the lack of quality solutions and supply options in India specifically and worldwide in the monitoring of long term glycemic control.”

Related Links:
Transasia Bio-Medicals Ltd.