08.01.11
San Diego, CA - August 1, 2011 - BIT Companies, (http://www.BIT-Companies.com), a global provider of instrumentation and system contract services, has announced the acquisition of California MedTech (CMT) of San Diego, California. Established in 1998, CMT is a leading contract service provider of design, development and manufacturing for complex life science products. By joining CMT with BIT Companies' Source Scientific of Irvine, California, BIT Companies has now become the largest in-vitro diagnostics contract service provider in the western region of the United States - a notable hotbed of high-tech medical development activity. Brian Kelleher, founder of CMT, will remain at the company, serving as CEO of the newly established BIT MedTech operation.
"This is really exciting news for BIT Companies," explains Marius Balger, CEO of BIT Companies. "CMT's 70 employees brings our U.S. total to 130 industry-dedicated and experienced personnel. The addition of CMT strengthens BIT's market position, as we are now the leading and largest contract service provider for complex in-vitro diagnostics medical instrumentation in the western United States. In addition to continuing our vertical integration in the life science technology segment, CMT's superior, state-of-the art design and manufacturing capabilities enhance BIT's horizontal integration. Because we already run a successful operation located in nearby Irvine, California, we will take advantage of economies of scale and countless other synergies afforded to us by the unification of the two companies. Our clients will reap the benefits of speed-to-market, broader service offerings, global networking, and greater cost efficiencies."
"We are pleased to become part of BIT Companies and look forward to contributing to further success of the combined entity," noted Brian Kelleher. "Together we can drive further innovation in leading-edge development and manufacturing services on a global scale."
Lincoln International initiated the transaction, assisted in negotiations and acted as the exclusive financial advisor to California MedTech.
In addition to BIT MedTech, BIT Companies include Source Scientific, LLC in Irvine, California, USA, // BIT Analytical Instruments in Ludlow, Massachusetts, and Schwalbach, Germany // BIT Technologies in Kunshan, China // BIT Japan Ltd. in Tokyo // and BIT C2 Diagnostics in Montpellier, France.
For over 35 years BIT Companies (http://www.BIT-companies.com) have provided services in the field of contract development and manufacturing as well as after-sales service for customers in the fields of medical, diagnostics and biotechnology. As a part of the financially strong Messer Group, BIT Companies provide their systems solutions worldwide and in compliance with ISO 13485 and 9001 standards. As registered contract service providers to the FDA, BIT Companies meet the stringent regulations with regard to medical and medical technical products while simultaneously adhering to predefined design-to-cost and time-to-market targets.
"This is really exciting news for BIT Companies," explains Marius Balger, CEO of BIT Companies. "CMT's 70 employees brings our U.S. total to 130 industry-dedicated and experienced personnel. The addition of CMT strengthens BIT's market position, as we are now the leading and largest contract service provider for complex in-vitro diagnostics medical instrumentation in the western United States. In addition to continuing our vertical integration in the life science technology segment, CMT's superior, state-of-the art design and manufacturing capabilities enhance BIT's horizontal integration. Because we already run a successful operation located in nearby Irvine, California, we will take advantage of economies of scale and countless other synergies afforded to us by the unification of the two companies. Our clients will reap the benefits of speed-to-market, broader service offerings, global networking, and greater cost efficiencies."
"We are pleased to become part of BIT Companies and look forward to contributing to further success of the combined entity," noted Brian Kelleher. "Together we can drive further innovation in leading-edge development and manufacturing services on a global scale."
Lincoln International initiated the transaction, assisted in negotiations and acted as the exclusive financial advisor to California MedTech.
In addition to BIT MedTech, BIT Companies include Source Scientific, LLC in Irvine, California, USA, // BIT Analytical Instruments in Ludlow, Massachusetts, and Schwalbach, Germany // BIT Technologies in Kunshan, China // BIT Japan Ltd. in Tokyo // and BIT C2 Diagnostics in Montpellier, France.
For over 35 years BIT Companies (http://www.BIT-companies.com) have provided services in the field of contract development and manufacturing as well as after-sales service for customers in the fields of medical, diagnostics and biotechnology. As a part of the financially strong Messer Group, BIT Companies provide their systems solutions worldwide and in compliance with ISO 13485 and 9001 standards. As registered contract service providers to the FDA, BIT Companies meet the stringent regulations with regard to medical and medical technical products while simultaneously adhering to predefined design-to-cost and time-to-market targets.