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Jan 24, 2014
ARKRAY, Inc. (herein ARKRAY) today concluded a business transfer agreement with Span.
Under this agreement, Span’s business will be transferred to the ARKRAY Group’s business unit based in Mumbai India, ARKRAY Healthcare Pvt. Ltd. (herein ARKRAY Healthcare)
The cost of the transfer was set at 734 million rupees (approx. 1.2478 billion yen at INR1=JPY1.7) and is expected to be completed by the end of May 2014.
Span are a major manufacturer in India and possess a wide lineup of rapid test reagents for infectious disease, biochemistry reagents and a strong sales network within India. ARKRAY established a joint venture company and began sales in India back in 2007. This business transfer agreement will both expand ARKRAY’s product lineup as well as increasing the size of the business.
Upon accepting the transfer of Span’s business, Takeshi Matsuda, President and CEO of ARKRAY was quoted as saying ’The potential demand for ARKRAY Healthcare is huge and we will continue establishing our sales network not only in India but all across the Asian region and into Africa. At the same time we will build a stronger base in India- a fast developing market for clinical testing.’
ARKRAY continues to offer products that match with market needs and trends all over the world and continutes to strengthen its business presence all over the globe.
| Company name | Span Diagnostics Ltd. |
|---|---|
| Representative | Mr. Veeral Desai (Managing Director) |
| Head Office | 173-B, New Industrial Estate, Road No. 6-G, Udhna, Surat - 394 210, INDIA. |
| Telephone | +91-261-227 7211 |
| Foundation | 2 January 1972 |
| Number of employees | 531 (as of January 2014) |
| Nature of business | Research, development, manufacture and sale of clinical test reagents (Mainly reagents & instruments for infectious disease and biochemistry diagnostics) |
| Company name | ARKRAY Healthcare Pvt. Ltd. |
|---|---|
| Representative | Mr. Tadashi Inoue (CFO & Chairman) |
| Head Office | 701 / 702, Opulence, TPS III 6th Road, Santacruz (East) Mumbai 400 055, INDIA |
| Telephone | +91-22-61559355 |
| Incorporation | 19 December 2007 |
| Number of employees | 85 *As of 1 November 2013 |
| Nature of business | Sales of clinical test instruments and reagents |
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