International Remote Completes Acquisition

International Remote Imaging Systems Inc., a Chatsworth-based maker of urinalysis testing equipment, said it has completed its acquisition of the specific gravity business of Biovation Inc., a manufacturer of laboratory information systems based in Hercules, Calif.

International Remote said it paid $850,000, plus warrants that will enable holders to purchase a total of 75,000 shares of the company's stock at $8.125 per share. The warrants expire in three years.

International Remote also acquired an exclusive license to use the Biovation trade name in the clinical laboratory consumables and small instruments markets.

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