China Medical Technologies, Inc., a leading China-based medical device company that develops manufactures and markets advanced in-vitro diagnostic systems and tumor therapy systems, today announced that it has completed its previously announced acquisition of a FISH business.

The acquisition is expected to expand and diversify the Company's existing product portfolio and complement the Company's existing ECLIA diagnostic products by providing proprietary tests for the diagnosis of prenatal and postnatal disorders as well various cancers. The new business will further strengthen China Medical's leading position in the rapidly-growing area of diagnostic testing in China.

The final consideration for the acquisition is US$136.8 million in cash with a further US$40.0 million that will be payable in cash or, at the Company's option, shares in the Company, upon the achievement of certain operating and financial milestones. Among the milestones, the most important is that the business has to generate US$20.0 million in revenue from FISH products in the first year after closing.

Source:佚名