Medisys, the supplier of blood glucose testing kits, is to sell its operating business to Arkray of Japan for £24m, and will now focus on investments in biopharmaceutical and diagnostic companies. Medisys shares crashed 52pc to 2.95p after the company revealed it had sold its main glucose blood monitoring unit and would turn itself into a medical investment company. David Wong, executive chairman, said that after several years of losses - pounds 7.3m last year before tax and exceptional items - the company had disposed of its Hypoguard blood glucose monitoring unit for pounds 24.2m to the Japanese medical diagnostics firm Arkray. After the disposal Medisys will switch its share listing to AIM.