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Sinocare Inc. (San Nuo Sheng Wu) (SHE:300298), China’s largest manufacturer of high-quality and low-cost blood glucose monitoring systems, said it has agreed to acquire privately-held Indianapolis-based Polymer Technology Systems, Inc. (operating as PTS Diagnostics), a manufacturer of point-of-care biometric testing devices, for up to $200 million in cash, and up to $90 million in milestone payments. In January, Sinocare closed the acquisition of Fort Lauderdale, Florida-based Nipro Diagnostics, a subsidiary of Japan’s Nipro Corp. (TYO 8086), for $273 million in cash. After the closing, Nipro Diagnostic has been renamed Trividia Health. “We share a vision of innovation and creativity, and together with Sinocare we will make our various solutions available to a much larger customer base,” said Robert Huffstodt, president and CEO of PTS Diagnostics. “Through continuous innovation, PTS Diagnostics has become the market leader of lipid, A1C and other important point of care biometric testing,” said Shaobo Li, chairman and CEO of Sinocare. “Sinocare and PTS Diagnostics have a shared vision and mission to improve the quality of life for our users.” Sinocare will further position PTS Diagnostics’ product portfolio in China, while PTS Diagnostics will use its extensive US and international distribution network to expand Sinocare’s footprint around the globe. PTS Diagnostics is expected to become a wholly-owned subsidiary of Sinocare within the next 120 days, subject to customary closing conditions. J.P. Morgan Securities LLC is acting as exclusive advisor to PTS Diagnostics. Evercore is acting as exclusive financial advisor to Sinocare. PTS Diagnostics’ signature products include the CardioChek lipid analyzer, and the A1CNow family of products. The CardioChek family of products have screened more than 120 million patients worldwide while the A1CNow product line works to enable people to lead healthier lives through ongoing management of diabetes. Together these products help identify individuals with cardiometabolic syndrome, a cluster of conditions that increase risks of developing cardiovascular disease or diabetes. The company also offers a new technology that has innovated blood collection with its PTS Diagnostics capillary tubes. For the collection of dried blood samples, the company provides the PTS PodTM blood collection system. In addition, PTS Diagnostics offers the PTS Connect wellness solution, a turnkey population health management (PHM) system for health and wellness companies, retail clinics and urgent care centers. Headquartered in Indianapolis, Indiana, PTS Diagnostics designs, manufactures, and markets products for distribution in more than 135 countries around the world. The company has manufacturing facilities in Indianapolis, and Sunnyvale, California, and has sales offices in North America, Europe, Latin America, and the Pacific Rim. Sinocare Inc. is dedicated to the innovation of bio-sensor technology and promoting diabetic self-management by using blood glucose monitoring systems. The company has been providing high-quality and low-cost blood glucose monitoring systems to the Chinese market since it was founded in 2002. Sinocare’s headquarters and production facility are located at the Lu valley Science & Technology Park, Changsha National High-Tech Industrial Development Zone, in Hunan, China. Sinocare, the first “glucometer stock” in China, has been listed on the Shenzhen Stock Exchange, since March 2012. The company passed the ISO:13485 quality management system certificate, and its products are certified by EU CE. Trividia Health, Inc., a wholly owned subsidiary of Sinocare Group, is a global health and wellness company based in Fort Lauderdale, Florida and a leading developer, manufacturer and marketer of advanced performance products for people with diabetes. With products sold under TRUE and store brand labels, the company is the exclusive partner and supplier of affordable, high-quality blood glucose monitoring and health and wellness solutions for the world’s leading retail pharmacies, distributors and mail service providers. Scott Verner, who was chairman, CEO and president of Nipro Diagnostics prior to its acquisition by Sinocare earlier this year, has been named CEO and president of Trividia Health and was joined by key executives from his previous management team.]]>