Japan's Sony acquires US Micronics Inc

Japan's Sony Corp yestereday disclosed its acquisition of US-based venture corporation Micronics Inc through its wholly-owned US subsidiary, Sony Corporation of America, without disclosing any financial details.

Micronics is involved in the research and development of near patient Point of Care range of devices for disease diagnosis, treatment monitoring and blood testing that can be performed in a physician's clinic, emergency room, or patient's hospital bedside, rather than having to send a patient's specimen to an off-site laboratory.

Sony Corp's acquisition of Micronics will be the first buyout of a medical equipment developer by a Japanese firm.

Sony hopes to accelerate its own research and development, particularly for Point of Care diagnostic equipment, as well as to accelerate the commercialisation of these products, through the micronics acquisition.

Sony said in a statement, "Utilising its microfluidics technologies, one of Micronics, Inc.'s main strengths since its inception in 1996, the company has yielded numerous achievements in the advancement of near patient Point of Care products in both the molecular and immunoassay diagnostic test domain, in part through its collaborative partnerships with private and public organizations, both within the U.S. and internationally

Micronics main focus in recent years has been development of a leading near patient Point of Care molecular diagnostic platform for the diagnosis of infectious disease. The company has received financial backing from individuals and investment firms such as River Cities Capital Funds, according to the company's website.