Temptime Corporation Snags William Laboratories For Undisclosed Amount In Effort To Expand Into Blood Temperature Monitoring Solutions
Temptime Acquires William Laboratories to Expand into Blood Temperature Monitoring Solution
MORRIS PLAINS, N.J., Dec. 18, 2013 /PRNewswire/ -- Temptime Corporation, the world's leading provider of time-temperature indicators to the health care industry, announced today that it has acquired Enfield, Conn.-based William Laboratories to expand into blood temperature monitoring solutions. Temptime's acquisition is a significant step toward expanding its capabilities since it partnered in September with Water Street Healthcare Partners, a strategic investor focused exclusively on health care.
Temptime's devices are used by the world's largest health organizations and pharmaceutical companies to alert them if vaccines and other medical products have been exposed to temperatures that could damage or alter their effectiveness. Temptime's acquisition of William Laboratories expands the company into devices that monitor the temperature of blood and other biological products. William Laboratories' core product, the Safe-T-Vue® temperature indicator, has been employed by hospital blood banks, operating and emergency rooms, and trauma services for more than two decades to store and transport blood within temperatures approved by the FDA.
"Our acquisition of William Laboratories is one more initiative that we are leading to achieve Temptime's mission of improving global health through solutions that protect people from the risk of using medical products damaged by extreme temperatures," said Renaat Van den Hooff, president, Temptime. "We are deeply committed to our customers, and will continue to look for opportunities to extend Temptime's support of our customers' distribution practices to encompass a full range of medical and biological products."
Lois Sharpless, president, William Laboratories, added, "We are honored to become part of Temptime. It is a prestigious organization that does so much good around the world. Our products and customers will be in the hands of experts who are dedicated to the highest standard of time-temperature indicator technology. With Temptime, our products will reach and make a difference in many lives."
Founded in 1987, Temptime and its scientists developed the first technology to monitor temperature exposure of vials containing the oral polio vaccine. In September 2013, the company chose to partner with Water Street to expand its capabilities and grow its business. In addition to acquiring William Laboratories, Temptime and Water Street plan to make strategic investments to expand Temptime's products to new markets, advance the company's research and development program, and increase its production capabilities.
Temptime is the world leader in time-temperature indicators to the health care industry. The company plays a vital role in improving global health by providing solutions that monitor temperature-sensitive medical and biological products and devices. The world's largest health organizations and manufacturers use Temptime's indicators to support them with safely distributing medical products and supplies around the world. Temptime is a company of Water Street Healthcare Partners, a strategic investor focused exclusively on the health care industry. To learn more about Temptime, please visit www.temptimecorp.com.
SOURCE Temptime Corporation
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