Ossen Innovation Proposes Acquisition of China Glucose Monitoring Device Company

Ossen Innovation, a Shanghai company, plans to transform itself into a glucose monitoring medical device maker. Ossen has struck a deal to acquire the American-Asia Diabetes Research Foundation, whose San MediTech (Huzhou) subsidiary offers a continuous glucose monitoring device in China. Ossen will spin off its present business -- the manufacture of pre-stressed steel materials for bridges -- to a buyer group led by its current Chairman, Dr. Liang Tang. No financial details of the two transactions were disclosed. Board approval for the two deals is required. More details.... Stock Symbol: (NSDQ: OSN) Share this with colleagues: // //