Utah Medical
This article was originally published in The Gray Sheet
Executive Summary
Completes definitive agreement to purchase "essentially all" assets of Huntington, California-based OB Tech, Inc. for $2.5 mil. in cash. OB Tech has developed the Cordguard, a disposable umbilical blood sampling system, which received 510(k) approval in Oct. 1992. According to Utah Medical, the acquisition represents a "significant revenue growth opportunity." Before marketing Cordguard, the company plans to improve the success rate of the device, which could take "several months"