Mon, 27 Dec 2010 | BUSINESS NEWS
A Scottish medical diagnostics company has announced plans to acquire an American chemical firm.
Axis-Shield, which is located in Dundee, will buy Washington-based Catch Incorporated's global clinical chemistry homocysteine business for around £6.3 million.
Axis has said that the decision to push ahead with the acquisition from its US partner was taken due to the positive impact it would have on the company. “The acquisition reinforces our leading position in homocysteine testing,” said the firm.
Homocysteine testing allows the amount of amino acids in the bloodstream to be measured and monitored and can help to assess whether a patient is at risk of a heart attack.
Alongside being one of the leading lights in the homocysteine testing arena, Axis-Shield has also created and developed test environments and systems for a range of ailments including septicaemia, diabetes and arthritis.
Axis-Shield’s chief executive, Ian Gilham, said, “The acquisition of this additional homocysteine measurement technology and business reinforces Axis-Shield's leading position in homocysteine testing and, importantly, significantly strengthens the patent protection of this important marker until 2019.
“We remain focused on the further growth of sales of homocysteine as the market dynamics move in favour of the more convenient clinical chemistry format for this analyte,” he added.
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