NOWDiagnostics acquires Canada's ZBx
NOWDiagnostics recently completed its acquisition of ZBx Corporation of Canada, a move that brings the company closer to its vision of a world where people have greater access to information concerning their health.
NOWDiagnostics manufactures and sells a line of unique blood-based rapid tests that allow health care providers to conduct simple-to-use, highly accurate tests for a variety of ailments and diseases.
ZBx Corporation, a Toronto-based diagnostic company founded in 2002, develops and manufactures rapid format, point-of-care diagnostic products in both the human and veterinary fields.
ZBx's customer base includes Canada, Europe, Asia, Africa, South America and Mexico.
"We are excited about the growth of NOWDiagnostics and what this means for point-of-care testing and the healthcare industry in general. Our acquisition of ZBx, with its deep product portfolio, experienced personnel and broad capabilities, will help us increase the speed at which we are currently developing our tests," said Kevin Clark, chief executive officer of NOWDiagnostics.
"The tests we are creating have the potential to revolutionize current medical test protocols and to lower costs to insurance companies and, ultimately, consumers."
NOWDiagnostics is currently developing its ADEXUSDx product pipeline consisting of tests in a variety of categories, including food intolerance, common infectious disease, STDs, cardiology, toxicology and screening (from thyroid dysfunction to pregnancy).
In addition to human tests, ZBx offers veterinary tests aimed at quickly diagnosing a variety of health conditions.
NOWDiagnostics' tests allow for a one-step process that provides results in five to 15 minutes using only a single drop of whole or capillary blood with no laboratory needed.
The company's Springdale, Ark., facility was officially registered with the U.S. Food and Drug Administration in December 2014 and is currently manufacturing the ADEXUSDx hCG test for distribution in the United States and five additional tests for distribution in Europe.
"This acquisition of ZBx is a major milestone for NOWDiagnostics and will provide us a strategic roadmap to faster, more efficient market entry," said Jeremy Wilson, chairman of NOWDiagnostics.
ZBx, based in Ontario, is a private biomedical company that was founded in 2002 to develop and manufacture rapid format, laboratory and point of care diagnostic products in the human and veterinary fields.
The company has created the platform development and licensing of two test cartridge designs for serum, plasma or whole blood - the ZAP and ZAP Micro brands.
Source: Company Press Release