China's Sinocare to buy Nipro Diagnostics

 03-Nov-15, Sinocare 

Sinocare Group, has announced it has signed a definitive purchase agreement with Nipro Corporation, under which it will acquire NiproDiagnostics, a wholly-owned subsidiary of Nipro Corp, for approximately USD273 million in cash.

Nipro Diagnostics is a global consumer health and wellness company based in Fort Lauderdale, Florida and a leading developer, manufacturer and marketer of advanced performance products for people with diabetes, including a broad portfolio of blood glucose monitoring supplies and technologies.

The company’s manufacturing facilities are principally located in Florida, New Hampshire and Taiwan.

Image: Sinocare

Under the terms of the agreement, Nipro Corporation will continue to purchase certain products in agreed-upon markets from Sinocare Group.

“This transaction combines one of the fastest growing blood glucose monitoring companies in the United States with the fastest growing blood glucose monitoring company in China,” said Scott Verner, Nipro Diagnostics chairman, president and CEO.

 Read the full article 

 Insights