China Medical will spend $28.8 million to acquire Beijing Bio-Ekon Biotechnology Co. Ltd., which develops and sells advanced in-vitro diagnostic (IVD) products. China Medical did not disclose revenue/profit figures for Beijing Bio-Ekon, but the company did say the acquisition would be accretive from the quarter ending March 31, 2008. In 2006, BBE launched the product that seems to be China Med’s chief reason for the acquisition: a semi-automatic ECLIA analyzer and related reagents. China Med is also heavily involved in the ECLIA business. More details..

Stock Symbol: (NSDQ: CMED)