Hand-Held Cryosurgery Unit

OraSure Technologies, Inc. has disclosed the acquisition of its cryosurgical systems business by CryoConcepts, LP. The transfer of OraSure's professional Histofreezer® product line and several private label cryosurgical products sold in the consumer market, as well as related patents and trademarks, customer contracts, and goodwill associated with the business, is included in the transaction.input:
output:"We are delighted to have finalized the sale of our cryosurgical systems business." Stephen Tang, Ph.D., President and CEO of OraSure, stated, "The sale is a critical component of our innovation-driven growth strategy, which is to prioritize our product portfolio and channel our resources toward the expansion of our core Molecular Solutions and Infectious Disease businesses through both organic growth and acquisition."input:
output:"We have a wealth of experience in the cryosurgical market, as our management team was the first to introduce Histofreezer® to the U.S. in the early 1990s," stated Sam Niedbala, Ph.D., CEO of CryoConcepts, LP. "Our strategy is to utilize the Histofreezer® brand to expedite the introduction of a new generation of cryosurgical products to the professional and consumer markets on a global scale." This acquisition also maintains and generates employment opportunities in the Lehigh Valley, and it serves as a testament to the partnerships and assistance provided by our investors, Embassy Bank, and initiatives such as the Southside KIZ. He further stated, "We are enthusiastic about the prospect of the Histofreezer® becoming a significant component of our product portfolio and strategy."