HandyLab acquisition paves way for 'future expansions,' executive says
The global medical devices company that’s acquiring Ann Arbor-based HandyLab expects to leverage the opportunity to expand into new markets, executives said today.
New Jersey-based Becton, Dickinson and Co., which announced Oct. 23 that it would buy University of Michigan spinoff HandyLab, is expected to finish the acquisition this month.
BD President Vincent Forlenza said the HandyLab’s rapid-detection-infection system is an “ideal complement” to the company’s technology portfolio.
The acquisition could lead to “future expansions into other molecular diagnostic opportunities,” Forlenza said on an earnings call with investors.
AnnArbor.com reported last month that BD agreed to pay close to $300 million for HandyLab, which employs about 60 workers in Pittsfield Township. BD is expected to maintain HandyLab’s local operation.
BD reported $7.2 billion in revenue for the 2009 fiscal year. The company has about 29,000 employees in 50 countries.
Contact AnnArbor.com's Nathan Bomey at (734) 623-2587 or nathanbomey@annarbor.com. You can also follow him on Twitter.
Related content
-
After 30 years working for Village of Dexter, Ed Lobdell calls it a day
Danny Schlaff, utility foreman and Ed Lobdell, public services superintendent, celebrate Lobdell's last day on the job on Oct. 29 at the Dexter American Legion. Lobdell worked for the Village of Dexter for 30 years. ...
- Ann Arbor biotech company AlphaCore acquired by multi-national pharmaceutical corporation AstraZeneca
- Terumo: FDA sets $35M fine and manufacturing restrictions for Scio Township medical device maker
Get the Ann Arbor RSS Feed
AnnArbor.com