April 2025—Advanced Instruments, a subsidiary of Patricia Industries, announced the execution of a definitive agreement to acquire Nova Biomedical. Following the close of the transaction, Advanced Instruments and Nova Biomedical will merge and operate under the Nova Biomedical name. Byron Selman, president and CEO of Advanced Instruments, will lead the combined business, while Nova Biomedical founding shareholders Frank Manganaro, CEO, and Dr. Chung-Chang Young, EVP of R&D, will stay with the company in a consulting capacity.
Closing is subject to regulatory approval and expected during the third quarter of this year.
Advanced Instruments, 781-320-9000
Nova Biomedical, 781-894-0800