Ultrasound technology developer Misonix has sold its laboratory and forensic safety products division to focus exclusively on growing its medical device business.
Misonix sold the laboratory and forensic unit to Mystaire for $1.5 million in cash, plus a potential additional payment of up to $500,000 based on the achievement of milestones. The business manufactures and markets ductless fume, laminar airflow, and polymerase chain reaction workstations in both the U.S. and internationally, and has revenues for fiscal 2011 of approximately $2.1 million, Misonix said.
The company plans to use the proceeds of the sale to invest in its sales and marketing efforts for its medical device business.
