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Corning Life Sciences acquires Mediatech
CORNING, N.Y.—Corning Inc. has completed the acquisition of Mediatech Inc., a Virginia-based corporation, including Mediatech's subsidiary, KD Medical Inc., a Maryland-based corporation that is a supplier of custom plate products to the U.S. National Institutes of Health (NIH).
Mediatech develops, manufactures and sells a broad range of cell culture media and molecular biology reagents related to tissue and cell culture applications. Its products under the cellgro brand include culture media, basal salt solutions, antibiotics, sera, specialty media and flexible packaging systems. The company's products are manufactured in a cGMP facility, certified to U.S. Food and Drug Administration (FDA) Regulations 21 CFR Part 820, as well as ISO 13485:2003. The newly acquired company will operate as a wholly owned subsidiary of Corning and will be integrated into Corning's Life Sciences segment.
Jason Walsh, director of New Platforms at Corning Life Sciences, will become general manager of Mediatech. James DeOlden, co-founder of Mediatech, will serve in an advisory capacity during the leadership transition. The financial terms of the agreement were not disclosed. Mediatech was the third Corning Life Sciences acquisition over the past three years. In 2009, the company acquired Axygen BioScience Inc. and its subsidiaries from American Capital Ltd. for approximately $400 million in cash. Headquartered in Union City, Calif., Axygen manufactures and distributes life sciences plastic consumable labware, liquid-handling products and benchtop laboratory equipment and has operations in the United States, France, Poland and China. At the time, Corning noted the acquisition enhanced the company's presence in Asia through Axygen's two manufacturing locations there and increased access to customers in the Asia region.
In 2010, Corning acquired France-based Plaslab, the holding company of Plastiques Gosselin. Headquartered in Borre, France, Plastiques Gosselin manufactures and distributes plastic consumable labware in Europe. At that time, Corning stated the acquisition "furthers Corning's strategy to continue to improve its strategic balance by strengthening its Life Sciences segment. All three acquired businesses have been integrated into Corning's Life Sciences segment."
"By providing customers worldwide with greater access to Mediatech's cellgro product portfolio, this acquisition supports Corning's ongoing commitment to supply its customers with a comprehensive line of laboratory research tools," added Richard Eglen, who was named vice president and general manager of Corning Life Sciences in June 2011.
Mediatech's wide array of culture media and molecular biology reagents is complementary to the general labware, cell culture, lab equipment and high-throughput screening/assay products offered today by Corning, Eglen notes. In addition, the acquisition enables Corning to continue to improve its strategic balance by strengthening its Life Sciences segment. Eglen stresses that Life Sciences will also continue to grow via internally developed products and cites its recent introduction of 384-well clear bottom microplates. The new products are dimensionally identical to the recently upgraded, solid-colored microplates, allowing for easy transition into existing automation and readers. Key features of the new microplate include: reduction in autofluorescence (background); reduction in well-to-well signal variation; higher signal-to- background ratio; larger surface area for improved viewing; improved robotic handling and bar coding; and seamless transition between clear and solid- colored 384-well plates.