Canada-based Adaltis, an international in vitro diagnostic (IVD) company, has completed the acquisition of Shanghai Hua Tai Biotechnology (Hua Tai), previously announced on December 21, 2006, following receipt of all required regulatory approvals. Hua Tai is a manufacturer of infectious disease diagnostic products located in Shanghai, China. Terms of the agreement were not disclosed.
Adaltis is an international in vitro diagnostic company that develops, manufactures and markets diagnostic systems. It aims to leverage its experience in Europe to become a leading provider of in vitro diagnostic products in emerging markets, with a particular focus on China.
Adaltis has completed building its manufacturing facility in Shanghai. Now operational, the production facility manufactures high-quality products in a low-cost GMP environment, in order to service existing markets in Europe, while providing a platform to penetrate the high-growth Chinese in vitro diagnostic market.