BIT Companies Acquires California MedTech for New Subsidiary

BIT Companies has acquired California MedTech (CMT), which —according to BIT— makes it the largest in-vitro diagnostics contract service provider in the western region of the United States. Brian Kelleher, founder of CMT, will serve as CEO of the newly established subsidiary, BIT MedTech. Financial details of the acquisition have not been disclosed.

“This is really exciting news for BIT Companies,” said CEO Marius Balger. ” In addition to continuing our vertical integration in the life-science technology segment, CMT’s manufacturing capabilities enhance BIT’s horizontal integration.” Balger cited the close proximity of CMT’s San Diego, Calif. headquarters to BIT Companies’ Source Scientific, LLC franchise in Irvine, Calif., as an advantage in the fusion of the two entities. BIT Companies now employs 130 people in the United States.

“We are pleased to become part of BIT Companies and look forward to contributing to further success of the combined entity,” Kelleher said.
“Together we can drive further innovation in leading-edge development and manufacturing services on a global scale.”

In addition to BIT MedTech and Source Scientific, BIT Companies owns BIT Analytical Instruments, which as operations in Ludlow, Mass., and Schwalbach, Germany; BIT Technologies in Kunshan, China; BIT Japan Ltd. in Tokyo and BIT C2 Diagnostics in Montpellier, France.