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OraSure Technologies, Inc. Announces Purchase of UrSure, Inc.
Acquisition strengthens OraSure’s leadership position in HIV field BETHLEHEM, Pa., May 29, 2020 (GLOBE NEWSWIRE) -- OraSure Technologies, Inc. (NASDAQ: OSUR),
About this update from Orasure Technologies, Inc.
[{"type":"text","content":"Acquisition strengthens OraSure’s leadership position in HIV field\nBETHLEHEM, Pa., May 29, 2020 (GLOBE NEWSWIRE) -- OraSure Technologies, Inc. (NASDAQ: OSUR), a leader in point of care diagnostic tests and specimen collection and stabilization devices, and microbiome laboratory and analytical services, today announced that it has entered into a definitive agreement to acquire privately owned UrSure, Inc. (“UrSure”) for cash.\n Based in Boston, UrSure is developing and commercializing products that measure adherence to HIV medications including pre-exposure prophylaxis or PrEP, the daily medication to prevent HIV. This includes laboratory-based tests that can measure levels of the medication in a patient’s urine or blood, as well as several additional point of care products in development. These products will allow healthcare professionals to assess patient adherence and determine with accuracy if the medication has not been taken as prescribed. PrEP has been shown to be 99 percent effective at preventing HIV infection when taken daily, adding another tool to help ensure that patients stay healthy. This transaction supports OraSure’s strategy of expanding its product offerings to include additional diagnostic products, particularly point-of-care tests that complement its current infectious disease portfolio and pipeline. OraSure has the first and only FDA-approved over-the-counter HIV rapid test which is currently being used in the federal government’s “Ending the HIV Epidemic: A Plan for America” initiative. The Company’s oral fluid self-test for HIV is the first and only WHO-prequalified oral fluid test used in developing countries to help end HIV transmissions. Importantly, adherence monitoring testing has the same call points for OraSure as HIV/HCV products in Public Health, hospitals and clinics, as well as global health segments. “The addition of UrSure to OraSure’s portfolio complements our work with HIV diagnostics and strengthens OraSure’s position as a global leader among public-health focused diagnostic companies in the HIV field. We are now able to offer a product line that covers the spectrum from screening to treatment adherence. We are proud that we are working to end the HIV/AIDS epidemic by helping people know their HIV status, remain adherent and reduce the risk of HIV transmission,” said OraSure President and ...