Sinocare Group to Acquire Nipro Diagnostics

Changsha, China-based Sinocare Group has reached an agreement to acquire Nipro Diagnostics, a wholly owned subsidiary of Nipro Corporation, for approximately $273 million in cash.

Nipro Diagnostics’ portfolio consists of advanced performance products for people with diabetes, including blood glucose monitoring supplies and technologies.

Sinocare, founded in 2002, markets blood glucose monitoring systems in the Chinese market.

The transaction is expected to be completed in 90 days. — Michael Cipriano