ChemTrak Enters Home HIV Testing Market with Acquisition of Coonan Clinical Laboratories

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Important note: Information in this article was accurate in 1994. The state of the art may have changed since the publication date.

ChemTrak Enters Home HIV Testing Market with Acquisition of Coonan Clinical Laboratories

Business Wire (12/22/94)

ChemTrak Inc. has entered into an agreement to acquire Coonan Clinical Laboratories Inc. (CCL). Subject to certain conditions, the closing is expected to occur within 30 days. CCL is in the third year of developing a home HIV-1 blood collection kit and is in the final stages of preparing a Pre- Market Approval application for the U.S. Food and Drug Administration. Under the agreement, ChemTrak will pay CCL a maximum of 400,000 newly issued shares of ChemTrak common stock.

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