OR WAIT 15 SECS
North American Science Associates, Inc. (NAMSA) announces a definitive agreement to divest its Sterility Assurance Products Division of biological and chemical indicators. Crosstex International, Inc., dedicated to delivering innovative infection prevention products for patients, caregivers and other healthcare providers, will acquire the assets of NAMSA’s Products business to further expand their offerings in the industrial market. The divestiture is consistent with NAMSA’s strategy to focus the organization on preclinical and clinical services that support the MRO® Approach, which offers a combination of regulatory and quality consulting, laboratory testing and clinical research to reduce time to market for its clients.
As part of Crosstex, the industrial sterilization monitoring portfolio will be well positioned to continue to grow its global leadership position. This transaction will complement the biological monitoring portfolio of Crosstex, which is currently focused in the dental and medical markets. Crosstex will provide industrial clients sterilization monitoring products with the same level of service and support that they receive from NAMSA today with an expanded product offering.
After the transaction closes, NAMSA will continue to manufacture sterilization monitoring products (for Crosstex) through the middle of 2016 depending on the product configuration, at which time Crosstex will integrate manufacturing into its global supply chain.
Subject to customary closing conditions, NAMSA (and Crosstex) expect the transaction to close in the first quarter of 2016.