NEW YORK (360Dx) – Accriva Diagnostics said today that it has been acquired by Spain-based Werfen and its subsidiary, Instrumentation Laboratory, headquartered in Bedford, Massachusetts.
Financial terms of the acquisition were not disclosed.
Accriva said that its portfolio consists of point-of-care diagnostic products for coagulation and antiplatelet therapy response. It noted that the acquisition will allow Instrumentation Laboratory to establish a strong market position in hemostasis testing at the point of care in hospitals, expand its status in critical point-of-care testing, and complement its standing in the hemostasis laboratory segment.
"The acquisition of Accriva strengthens our leadership in hemostasis, critical care, and patient blood management testing," Ramon Benet, CEO at Instrumentation Laboratory, said in a statement.
As part of Instrumentation Laboratory, Accriva Diagnostics will continue operating from its existing facility in San Diego, which has around 460 employees.
Accriva Diagnostics President and CEO Scott Cramer said in a statement that he foresees "significant growth ahead" for Accriva. The resources, expertise, and global reach of Werfen and Instrumentation Laboratory "will accelerate this trajectory even further," he added.
J.P. Morgan Securities served as financial advisor and Cooley served as legal advisors to Accriva. The transaction closed on Thursday.