June 5, 2015 – Ithaca, NY – Advion, Inc., a leading systems and consumables developer for the life sciences industry, announces it has signed a definitive agreement to be acquired by Bohui with an expected close date on June 30, 2015. The acquisition is strategic for both companies and will enable Advion to broaden its investments in the areas of life science, clinical, and food safety applications. Advion will continue to trade under its current name and brand, with all employees and executives remaining with the company. All three (3) operations and locations in Ithaca, NY are expected to remain unchanged into the future.
Commenting upon the acquisition, Advion's CEO Dave Patteson stated "Our company's business progression has been quite notable over the past three years since we launched the expression CMS line of compact mass spectrometers. Following substantial inbound interest to acquire Advion, we utilized an investment banking partner to conduct a formal process. Our strategic alignment with Bohui is remarkable. Their commitment to the development of clinical applications of MS technology, and substantial footprint in the world's fastest growing economy have created an ideal combination."
Bohui's CEO, Lu Xinqun continued, "We have been impressed by Advion's deep technical skills and operational excellence. Bohui intends to fully fund Advion's R&D projects to strengthen its market position, and to promote Advion's products in the Chinese Market. Advion's strong presence in North America and the EU also allow for Bohui to gain a more balanced global footprint. Advion's academic and life science focus is a perfect pairing with Bohui's traditional markets and clinical presence."
About Advion, Inc.
Advion develops, manufactures and globally supports mass spectrometers, chip-based ion sources, microfluidic flow chemistry systems and consumables for life science and related industries. We seek to enhance analysis performance and workflows. Using our deep scientific and engineering knowledge of mass spectrometry and microfluidics, we leverage our passionate employees' commitment to create quality, flexible and fit-for-purpose solutions. More about Advion, Inc. can be found on our website, www.advion.com.
Bohui Innovation Technology Co. is a developer, manufacturer, supplier and service provider of diagnostic systems related to women and children's health. Its core product line is fully automated blood heavy metal analyzers. It is committed to developing microfluidic and mass spectrometry technologies for diagnostic and inspection applications. Bohui is located in Beijing and publically traded in the Chinese stock market. More about Bohui can be found on our website, www.bohui-tech.com.
For Advion, Inc.
Director of Marketing
Secretary of the Board
Bohui Innovation Technology Co.
Telephone: 010 8885 0168