QUEST MEDICAL, INC. (NASDAQ) ACQUIRES 'ACTESTER' PRODUCT LINE FROM MCGAW INC.
QUEST MEDICAL, INC. (NASDAQ) ACQUIRES 'ACTESTER' PRODUCT LINE FROM MCGAW INC. DALLAS, June 18 /PRNewswire/ -- QUEST MEDICAL INC. (NASDAQ: QMED), a manufacturer of proprietary disposable products for the health care industry, announced at today's annual meeting that it has an agreement to acquire from McGaw Inc. the assets related to McGaw's "ACTester" product line for $500,000 cash. The transaction is scheduled to close on Friday, June 19, 1992. The ACTester product line consists of instrumentation and disposables used to measure the activated clotting time (ACT) of blood, a key parameter in managing patient coagulation status in applications such as dialysis, open heart surgery, cardiac catheterization, ECMO, and other critical care applications. ACTester sales were $435,000 for 1991 and $210,000 for the first four months of 1992 ended April 30. Explaining that Quest plans to consolidate the product line into its Dallas operations, president Thomas C. Thompson said, "We expect ACTesters to begin contributing to earnings immediately." Thompson added, "ACTester sales historically have emphasized the dialysis market, but we believe the technology can be adapted for cardiovascular applications, complementing Quest's strategic focus on the cardiovascular market." -0- 6/18/92 /CONTACT: F. Robert Merrill III, Vice President/Finance of Quest Medical, 214-387-2740/ (QMED) CO: Quest Medical Inc.; McGaw Inc. ST: Texas IN: MTC SU: TNM PDT
CH -- LA007 -- 1432 06/18/92 10:42 EDT
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|Date:||Jun 18, 1992|
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