March 20, 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.
“Combining these two great companies aligns with our core strategy to develop and commercialize best-in-class technologies that deliver significant customer value across the biopharma and clinical markets,” Selman said in a press statement. “The combination of our technologies, R&D strength, global sales network, dedicated teams, and commitment to innovation will advance our collective ability to support customer workflows within various stages of drug development and bioprocessing and expand our footprint within the hospital and other health care settings, guiding patient care with our diversified product portfolio and supporting our growing customer base.”
Closing is subject to regulatory approval and is expected during the third quarter of this year.