IRIS Plans $3.9-Million LDA Systems Stock Buyout
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International Remote Imaging Systems, the Chatsworth maker of microscopic imaging machines for medical laboratories, said it will pay $3.9 million in stock to acquire all the outstanding stock for LDA Systems Inc., a spinoff firm it created.
IRIS created LDA Systems to help it develop a machine that assists in identifying abnormalities in white blood cells so that lab technicians don’t have to spend as much time scrutinizing samples through a microscope. IRIS said it plans this month to apply to the U.S Food and Drug Administration for clearance to market the machine.
IRIS entered into a joint development program with LDA Systems in 1992. The two companies jointly funded $2.8 million in research, development and clinical trials costs for the project.
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