SYDNEY: Universal Biosensors Inc. announced that its Canadian subsidiary, Hemostasis Reference Laboratory Inc (HRL), has entered into an agreement with Bayer AG of Germany for the provision of certain services relating to the performance of laboratory analysis of biological samples.
The services are to be provided over an agreed period of time and will generate CAD $1.3 million of additional revenue for HRL.
John Sharman, CEO of UBI commented, “HRL is our laboratory service business in Canada and is an important asset in our blood testing business. We are looking to grow HRL and expand the client base over time. The contract with Bayer is a significant first step and we expect to be in a position to announce additional contracts with other customers over the course of the next six months.”
Universal Biosensors Inc. (ASX:UBI, founded in 2001, specialises in the design and development of electrochemical cells (strips) used in conjunction with point of use devices that are used in various industries such as healthcare (point of care), food and drink and agriculture.