Does anyone think this area NBSC is in, is not being looked over with a fine tooth comb? FSH, nice strength yesterday in light of the recent $27.00 offering.
Apogent-A recent acquirer-BW)(NH-APOGENT)(AOT) Apogent Technologies Inc. Announces Acquisitions of Separation Technology, Inc. and Capital Vial, Inc.
Business/Technology Editors & Health/Medical Writers
BioWire2K
PORTSMOUTH, N.H.--(BW HealthWire)--Feb. 25, 2002--Apogent Technologies Inc. ( NYSE: AOT), a leading manufacturer of laboratory and life science products, announced today the acquisitions of Separation Technology, Inc. and Capital Vial, Inc.
Separation Technology, Inc. (STI), located in Altamonte Springs, Florida, designs, manufactures, and markets tabletop microhematocrit centrifuge systems and markets the related consumables. Consumables include capillary tubes, tube holders, and reference controls. These products are used by blood banks, plasma collection centers, kidney dialysis centers, hospitals, and other public health facilities for blood serum and plasma separation. STI utilizes both direct and distribution channels to market with expected revenues, for the next twelve months, of approximately $3.0 million. STI will be included in Apogent's Clinical Diagnostics segment.
Capital Vial, Inc. (CVI), through its facilities in Auburn, Alabama, Fultonville, New York, and Norristown, Pennsylvania, develops, manufactures, and markets patented, flip-top, leak-proof plastic vials and related processing equipment for sample collection and processing. Drugs of abuse testing performed by the major reference laboratories in America is the primary application for CVI's vials. This reference laboratory testing for drugs of abuse is mandated by the Department of Transportation, by union contracts at large companies, and by insurance companies. There is little pre-employment testing volume using CVI vials. Other, smaller markets for these vials include food and dairy testing.
To enhance its sales of plastic vial consumables in the clinical diagnostics market, CVI developed and now markets an automated piece of equipment, called the CV-1000. This machine, located on-site at reference laboratories, automates the process of preparing urine samples for further testing on clinical chemistry analyzers. While reducing direct labor headcount and costs, particularly during the late night to early morning reference lab processing hours, the CV-1000 also increases quality control in the ever-important chain of custody of drug test samples.
CVI's products are sold direct to end-users. Revenues for the next twelve months are expected to be approximately $29 million and will be included in Apogent's Clinical Diagnostics segment.
Commenting on the acquisitions, Apogent's President and Chief Executive Officer, Mr. Frank H. Jellinek, Jr., said, "We are extremely excited by the opportunities presented by these fine companies. These are complementary products for Apogent and broaden our reach, particularly in the diagnostics arena in the United States. Additionally, with CVI, we expect to benefit from consolidation opportunities in manufacturing and purchasing within the Apogent companies." -0- *T UPCOMING EVENTS Company Presentations Apogent will present at the following upcoming investor conferences:
Conference Details
Lehman Brothers Global Healthcare February 27, 2002 at
11:15 a.m. EST Conference Disney Grand Floridian |
