AmbiCom, www.ambicom.com – the San Jose, California-based developer of a range of advanced wireless products, ranging from its emphasized sector of healthcare to industrial/systems integration and retail/e-commerce solutions, reported entry today into a definitive acquisition agreement whereby ABHI will acquire 100% of Taiwan-based electronic medical device designer, E-Care Technology Co., Ltd.
The anticipated date for completion of the agreement, allowing for due diligence and ancillary requirements on the part of E-Care, should be within the next 90 days.
Chairman of ABHI, John Hwang, measured the agreement as a “significant step” for the Company, citing the established reputation of E-Care as a provider of thermometers for adults and children, as well as unique thermometers for pets and even a digital intra-oral camera.
Hwang explained how E-Care’s product portfolio, competencies and location are all well-suited to ABHI’s market direction and noted the manufacturing capacity this acquisition adds to the bottom line in particular.
While already known throughout European markets, the E-Care brand has not been available until this move by ABHI, which will place the thermometers in stores throughout broader markets, including North America.
Increasing demand for disposable thermometers, driven by technical advances in the medical self care market, when coupled with information accessibility that has ignited a massive global health-consciousness boom, has produced a market for temperature monitoring devices that is projected to exceed $694.4M by 2015 (Global Industry Analysts, Incorporated).
The fastest growing segment of the temperature monitoring device market was also identified as precisely the types of technological innovations (infrared, digital and electronic devices) for which E-Care and ABHI are known. The acquisition, logistical composition of the companies and market dynamics are ideal for driving shareholder returns.