IRIS to Buy Perceptive Scientific Instruments
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International Remote Imaging Systems Inc. has agreed to purchase Perceptive Scientific Instruments for $9.3 million in cash, a $7-million subordinate debenture and a five-year warrant to purchase 875,000 shares of IRIS stock at $8 a share.
The purchase is expected to be concluded by July 31.
IRIS, based in Chatsworth, is a maker of laboratory diagnostic equipment, including urinalysis machines.
Perceptive Scientific Instruments is a privately owned company that manufactures digital imaging systems used in laboratories and has operations in Texas and England. Perceptive Scientific’s sales last year were $6.8 million. Edward Randall, Perceptive Scientific’s owner, will join IRIS’ board of directors.
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