Japan's Tosoh acquires in-vitro diagnostics firm Lilac Medicare

Japanese firm Tosoh Corporation, as a part of its strategy to expand and strengthen its bioscience operations, has acquired the Mumbai-based in-vitro diagnostics company Lilac Medicare Pvt Ltd for an undisclosed amount. As a result of this transaction, Lilac Medicare, which was established in 1997, becomes a part of the Tosoh Group.
 
“By utilising the network Lilac has built, Tosoh will make further efforts to increase its share in the growing Indian market by using its own immunological and diabetes diagnostic analysers as stepping stones towards expanding its bioscience business and establishing a firm position in India,” said Tosoh in a press release.
 
Lilac Medicare, which has 135 employees, manufactures and supplies clinical diagnostic equipment and reagents.
 
The $7.5-billion Tosoh, which is one of the largest chlor-alkali manufacturers in Asia, supplies the plastic resins and an array of the basic chemicals that support modern life. Tosoh’s petrochemical operations supply ethylene, polyethylene, and functional polymers, while its advanced materials business serves the global semiconductor, display, and solar industries. Tosoh has also pioneered sophisticated bioscience systems that are used for the monitoring of life-threatening diseases.