KHB Shanghai Kehua Bio-Engineering, a major China IVD company, paid $31.5 million to acquire Technologenetics of Italy, also an IVD developer. The acquired assets of Technologenetics were put into a Joint Venture, 80% owned by Kehua and the remaining 20% by another IVD company, Altergon Italia. Altergon will contribute its R&D site in Southern Italy and also its facilities in China (Qingdao and Shenzhen) for its share. Kenua's $31.5 million investment consists of $20.5 million for the acquisition and another $11 million to be invested in the JV over the next 18 months.
