U.S. Medical Device Maker Sold to China-Based Company

The deal could reportedly be worth $200 million.

PTS Diagnostics, based in Indiana, is being sold to a China-based company in a deal that could be worth $200 million, according to the Indianapolis Business Journal.

The company makes handheld cholesterol and blood sugar medical testing devices.

According to the article, their devices are mostly sold to healthcare providers and clinics with less than 10 percent being sold directly to consumers at places such as Walgreens and CVS.

Sinocare Inc., the company in agreement to purchase them, makes blood-glucose-monitoring systems.

In an interview with the news outlet, PTS Diganostics CEO Robert Huffstodt said the company's sales in China last year were between $4 million and $6 million.

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