News & Events
KOVA INTERNATIONAL INC. ACQUIRES BIOCHEMICAL DIAGNOSTICS, INC.
Posted on : June 06, 2016
GARDEN GROVE, CA, JUNE 3, 2016 – Kova International, Inc. (“Kova”) announced today that it has acquired Biochemical Diagnostics, Inc. (“Biochemical Diagnostics”). The transaction was completed on April 22, 2016. Financial terms of the transaction were not disclosed. Founded in 1981, Biochemical Diagnostics, based in Edgewood, NY is a leading manufacturer and marketer of controls and disposable sample preparation products used in drugs of abuse testing. Biochemical Diagnostics’ products are utilized in toxicology and clinical laboratories and also in handheld devices for point of care testing. The acquisition of Biochemical Diagnostics expands Kova’s product line into the drugs of abuse testing area and provides the combined company with opportunities to cross-sell Biochemical Diagnostics’ products through Kova’s robust distribution network.
“This acquisition builds on Kova International’s 35 years of innovation and quality, supporting our strategic priorities and further expanding Kova’s product offerings and value proposition. Biochemical Diagnostics enhances the KOVA brand through its FDA/DEA approved products, recognized brand name and ISO certified manufacturing practices. Kova increases Biochemical Diagnostics’ distribution reach and diversifies its product portfolio,” said Nita Moritz, President of Kova.
Allen Panetz, the founder of Biochemical Diagnostics, who will remain with the company following the transaction, commented, “The entire Biochemical Diagnostics team is excited to be joining the Kova family knowing that the expansion of the company’s footprint to two locations, one on the East Coast and one on the West Coast will be of immense benefit to our combined customers. Kova’s resources will enable us to expand the reach of our product offering and develop new products while continuing to provide high quality controls and a robust line of sample preparation disposables and equipment to our loyal customers.”