EKF Diagnostics Acquires Separation Technology Inc.
Hematology testing company complements EKF’s POCT product portfolio
EKF Diagnostics, the global in vitro diagnostics business, announces that it has acquired Separation Technology, Inc. (STI), the Florida based manufacturer of in vitro diagnostics devices for hematology testing. This acquisition complements EKF’s existing offering in the hemoglobin testing market place, which includes Hemo Control (also sold as HemoPoint H2 in USA and Asia). Notably, STI’s primary instrument is the UltraCrit hematocrit measurement device which is FDA cleared for blood donor screening.
STI develops, manufactures and markets specialty IVD devices including ultrasound instruments and table top centrifuges for the hematology testing market. STI also has an in-house engineering capability, including product design, production support and new product development.
STI’s UltraCrit is the first and only hematocrit/hemoglobin device to use ultrasound technology. The hematocrit reading is displayed automatically in about 30 seconds and provides a hematocrit value that allows for standardization for all collections, including whole blood, apheresis and double red cell collections. UltraCrit uses reagentless cuvettes, a major point of differentiation between different analyzers. STI also manufactures a range of centrifuges including HemataSTAT, also used for hematocrit reading.
Julian Baines, CEO of EKF commented: “The acquisition of STI is a great natural fit with our existing point-of-care business, and UltraCrit provides us with a leading product for measuring hematocrit during blood donor screening with huge potential both within the US and internationally.”
STI’s revenues are currently concentrated in the US market however the business has sought to expand its offering into markets outside of the US and has recently registered products in Brazil (UltraCrit), as well as Kazakhstan, Russia and Thailand. STI currently employs 15 staff, is based in Sanford, Florida, USA, and is being sold by Thermo Fisher Scientific Inc.
The acquisition of STI follows a year of strong organic growth in 2013 by EKF Diagnostics. EKF now has an installed base of over 50,000 analyzers globally and manufactures nearly 50 million tests annually. Highlights for 2013 include a 42% increase in the Company’s sales of Hemo Control (HemoPoint H2), with sales for its Quo-Lab and Quo-Test glycated hemoglobin (HbA1c) point-of-care analyzers up by 75%. Its Biosen range of glucose and lactate analyzers also showed a significant sales increase of 20%.
For more information on EKF Diagnostics, please visit www.ekfdiagnostics.com. and www.separationtechnology.com.
SOURCE: EKF Diagnostics