On May 3, Sannuo Biotech announced that it will spend US$120 million to acquire the leading POCT (Point of Care Testing) diagnostic equipment company, Polymer Technology Systems, Inc. (PTS). The transaction also stipulates that if the target company PTS reaches the three-level milestone performance requirement from the date of delivery to the end of 2017, Sannuo will pay an additional consideration of no more than 90 million US dollars, thus increasing the total amount of mergers and acquisitions to 200 million US dollars. This is another big acquisition of Sannuo Bio after acquiring the world's sixth largest blood glucose meter company, Trividia, for $273 million last year.
PTS is not eye-catching in the IVD industry of the strong such as Lin, but in the eyes of the POCT industry, it is famous. PTS, a company that specializes in real-time blood testing, ranks first in the global market for blood lipids. Founded in 1992 by former Roche employee James Connolly, the company is headquartered in Napoli, Indiana, USA and has research and development facilities in Sunnyvale, California. The company's main products are the CardioChek series of blood lipids, blood glucose analysis and monitoring equipment and the A1CNow series of glycated hemoglobin (HbA1c) monitors.
Let's take a look at the financial situation of PTS in the last three years.
Note: The above data has not been audited by domestic audit institutions.
In terms of financial status, in 2013 PTS acquired the A1CNow series of glycosylated hemoglobin monitors from Bayer Diagnostics. Although the sales in 2014 increased by 15 million US dollars, the net profit decreased from 8.44 million US dollars to 5.89 million US dollars. It is even negative growth, and the net profit has fallen to only 740,000 US dollars, only one step away from the loss. Such a performance, spending $110 million to acquire, seems to be somewhat unworthy.
Hyaluronic Acid Dermal Filler,Hyaluronic Acid Fillers,Hyaluronic Acid Injections Face,Hyaluronic Injections Face
Qingdao Beautiful Skin Biotechnology Co., Ltd , https://www.hafilleresthetic.com