BIOPOOL INTERNATIONAL INC. COMPLETES THE ACQUISITION OF MEDICAL DIAGNOSTIC TECHNOLOGIES INC.
BIOPOOL INTERNATIONAL INC. COMPLETES THE ACQUISITION OF MEDICAL DIAGNOSTIC TECHNOLOGIES INC. VENTURA, Calif., March 3 /PRNewswire/ -- Biopool International Inc. (NASDAQ: BIPL) today announced it has completed the acquisition of Medical Diagnostic Technologies Inc., a privately held company which operates under the name, MeDiTech. Michael D. Bick, Ph.D., Biopool chief executive officer, said the transaction involves the exchange of 1 million shares of Biopool common stock for all the outstanding shares of MeDiTech. He said MeDiTech will continue its operations as a subsidiary of Biopool. "The acquisition of MeDiTech broadens our total medical product offerings to more than 100, with over 30 having received market approval from the U.S. Food and Drug Administration through the 510(K) Premarket Notification process," said Bick. "The combination of MeDiTech and Biopool signifies a strategic move that we are confident will provide significant technological, distribution and product line synergies," he added. Biopool International and MeDiTech develop and manufacture diagnostic test kits and related products in the areas of blood coagulation, hemostasis and fibrinolysis. The products are sold principally to hospitals, as well as to clinical and research laboratories, through a worldwide distribution network in Europe, North America, Latin America and Japan. Headquartered in Ventura, Biopool has operations in Burlington, Ontario, and Umea, Sweden. Andrew Cerskus, Ph.D., remains president and chief operating officer, with Mats Ranby, Ph.D., as executive vice president. -0- 3/3/92 /CONTACT: Michael D. Bick, Ph.D., CEO of Biopool International, 805-654-0643; or Roger S. Pondel or Elizabeth A. Gard of Rifkind Pondel & Parsons, 310-207-9300, for Biopool International/ (BIPL) CO: Biopool International Inc.; MeDiTech ST: California IN: MTC SU: TNM
EH-JL -- LA007 -- 4341 03/03/92 09:04 EST
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|Date:||Mar 3, 1992|
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