Morristown, N.J.-based Temptime said Wednesday it has completed its acquisition of William Laboratories, deepening the company’s footprint in the blood temperature monitoring market.
Temptime makes time-temperature indicators that are used by many large healthcare companies to monitor temperature-sensitive products, such as vaccines. By acquiring William Laboratories, Temptime gains access to products that monitor the temperature of other biological products such as blood.
The acquisition also gives William Laboratories access to Temptime’s expertise in temperature indicators and its large customer base, said Kelly Zitlow, a spokeswoman for Temptime’s business partner, Water Street Healthcare Partners.
“Our acquisition of William Laboratories is one more initiative that we are leading to achieve Temptime’s mission of improving global health through solutions that protect people from the risk of using medical products damaged by extreme temperatures,” company President Renaat Van den Hooff said.
Terms of the purchase were not disclosed. — Lena Freund
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