MEDICAL
Irvine Scientific, a biotechnology supply company in Santa Ana, has bought the cell biology and diagnostic product lines of Hana Biologics, a biotechnology company in Alameda, for $14.4 million.
The acquisition is expected to complement Irvine Scientific’s existing products, used by biotechnology companies and research universities and hospitals.
As a result of the acquisition, Irvine Scientific will become a major player in the manufacture of serum-free media used to grow cells in the laboratory. Serum-free media is cheaper than other methods because it does not require the addition of bovine blood. It is generally preferred by scientists because it contains fewer unknown components.
By the acquisition, Irvine Scientific gains a new business in diagnostic test kits.
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