The story has been updated to reflect the size of the deal.
NEW YORK ─ South Korean semiconductor firm Soulbrain Holdings has acquired all of the controlling shares of point-of-care blood analyzer company PixCell Medical and also invested in the diagnostic company in a deal worth more than $40 million, PixCell said on Monday.
The acquisition of shares and investment aligns with Soulbrain's recent strategic transition into the healthcare and in-vitro diagnostics markets, PixCell said, adding that it fits with Soulbrain's plans to enter the point-of-care testing space.
Yokneam Ilit, Israel-based PixCell markets HemoScreen, a point-of-care blood testing platform that conducts blood cell analysis within five minutes using artificial intelligence-based microfluidic and lab-on-a-cartridge technology. HemoScreen conducts five-part differential complete blood count tests and produces results equivalent to laboratory analyzers by applying a microfluidics method called viscoelastic focusing to conduct cell analysis, PixCell said.
"Striving to acquire technologies that will serve as the foundation of future industry development is our focus, and we have diversified our business portfolio to include distribution of specialized diagnostic reagents and miniaturized medical devices focused on [the] point-of-care," Nam Huh, head of the bio-healthcare division and vice president at Soulbrain, said in a statement.
In April, PixCell Medical announced an agreement with Axonlab to distribute PixCell's HemoScreen point-of-care hematology analyzer in Switzerland, Austria, the Netherlands, and the Czech Republic.