ADVERTISEMENT
2 /3 FREE ARTICLES LEFT THIS MONTH Remaining
Chemistry matters. Join us to get the news you need.

If you have an ACS member number, please enter it here so we can link this account to your membership. (optional)

ACS values your privacy. By submitting your information, you are gaining access to C&EN and subscribing to our weekly newsletter. We use the information you provide to make your reading experience better, and we will never sell your data to third party members.

ENJOY UNLIMITED ACCES TO C&EN

Business

Advion Sold To Diagnostics Firm

Acquisition: Deal is Second within a Year Transferring a U.S. Mass Spectrometer Maker to a Chinese Firm

by Marc S. Reisch
June 10, 2015 | APPEARED IN VOLUME 93, ISSUE 24

Advion, a maker of compact mass spectrometry systems and consumables for the life sciences industry, has signed a definitive agreement to be acquired by Beijing Bohui Innovation Technology, a Chinese diagnostics maker.

Bohui will pay $28 million for the Ithaca, N.Y.-based firm when the deal closes on June 30. Advion employs 55 people and will have $15 million in sales this year, according to CEO David Patteson. All employees and executives will remain with the firm, he says.

The deal marks the second time within a year that a Chinese firm has bought a U.S.-based MS business. Last fall, Bruker sold its gas chromatography and GC-single quadrupole MS assets to Hong Kong’s Techcomp for $13.5 million. The business continues to operate in Fremont, Calif., as Scion Instruments.

Bohui, a blood diagnostics manufacturer and service provider, says it will fund R&D projects to strengthen Advion’s market position. Lu Xinqun, Bohui’s CEO, adds that his firm will also promote Advion’s products in the Chinese market.

Venture-capital-backed Advion sold its contract drug research business in 2011 to research services firm Quintiles. Since then, Advion has been a player in the trend to shrink scientific instruments.

In 2012, Advion introduced a single-quadrupole mass spectrometer that fits under a lab fume hood. The firm also developed a miniaturized spray ionization emitter used to introduce samples into liquid chromatography/MS systems.

X

Article:

This article has been sent to the following recipient:

Leave A Comment

*Required to comment