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MedTest DX, Inc., Purchases Chemistry Product Line from Polymedco

5/16/2011 8:46:49 AM

CORTLANDT MANOR, N.Y., May 16, 2011 /PRNewswire/ -- Polymedco, Inc. ("Polymedco") is pleased to announce the acquisition by MedTest DX, Inc. of Polymedco's complete line of chemistry products which was effective April 20th, 2011. The transaction includes the Poly-Chem® benchtop chemistry analyzer, and all related reagents; the SPOTCHEM EZ® small dry benchtop chemistry analyzer and all related reagents, and all bulk chemistry reagents.

MedTest, DX, Inc. ("MedTest") was incorporated in 2011 as part of the purchase of chemistry assets from Polymedco. The investment in MedTest was made by Enhanced Equity Fund, a healthcare focus private equity firm. MedTest, based in Cortlandt Manor, NY, will sell a range of chemistry instruments, reagents, and instrument services to physician offices, hospitals, reference laboratories, and research facilities, through distribution channels in the U.S.

Commenting on the transaction, James White CEO of MedTest said, "I am excited to be working with Drew Cervasio and his team at Polymedco as we grow our chemistry business under the MedTest DX name and look to build on the excellent reputation Polymedco and their suppliers have in the marketplace."

"We are very pleased with this recent transaction of selling our chemistry business to EEF," said Drew Cervasio, President of Polymedco, "they will be a thoroughly focused chemistry and point of care company and will be extremely successful. We look forward to working with them to support customers in a seamless transition."

Polymedco Inc. is a leading manufacturer, marketer, and distributer in the clinical laboratory marketplace. Polymedco supplies clinical diagnostic test kits and devices that are specialized in hematology and cancer. We are a world leader in non-invasive colorectal cancer screening technology, providing the new standard of care with the OC FIT-CHEK® product line.

Since 1980, Polymedco has evolved into a highly skilled and successful marketing, sale, and manufacturing organization. With an experienced team of field representatives combined with strong technical service personnel, Polymedco provides a high level of customer, technical and reimbursement support.

SOURCE Polymedco, Inc.

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