Source Scientific LLC is 100% Acquired by BIT Analytical Instruments

After a planned five-year transition period, Source Scientific, LLC of Irvine, CA has been fully acquired by BIT Analytical Instruments of Schwalbach, Germany. BIT specializes in contract development, manufacturing and service of in vitro diagnostic and medical instruments for customers in the fields of medical, diagnostics, life science and biotechnology.

January 15, 2013: Irvine, CA – Source Scientific LLC (SSL) has announced that the company has now become fully-owned by BIT Analytical Instruments GmbH of Schwalbach, Germany (www.bit-group.com). The 100% acquisition of Source Scientific follows a planned five-year transition period during which BIT owned 50% of the highly-successful in-vitro diagnostic / medical analytical instrument company.

According to Richard Henson, former CEO of Source Scientific, “Our product development business is experiencing the strongest growth of our 32-year history. BIT will keep both Irvine [Source Scientific] and San Diego [BIT MedTech] facilities active and expects growth in both locations. Additionally, BIT is planning a new Irvine facility by the end of the year that will allow us to provide even better services to our clients.“

As of January 1, 2013, Marius Balger, CEO of BIT Group is also taking on the position of Interim CEO of Source Scientific. Bruce Sargeant will continue to serve as President and CTO and remains stakeholder in the company. Says Balger, “Operating for the past five years under the auspices of our global BIT group network and resources, Source Scientific has grown and developed into a strong, efficient BIT company. It was the logical step for us to exercise the option to enable faster growth and optimized service provision in the US market. We are proud to welcome all SSL employees into the BIT family.”

BIT Group provides contract product development, manufacturing and after-sales services, as well as white-label instruments, for life science, medical and IVD instrumentation OEMs. Quality standards include GMP, FDA registered, ISO13485 & 9001, QSR, Class I, II, and III. BIT Group‘s global operations in USA, Germany, France, China & Japan deliver precision engineered, cost effective systems solutions. Pre-engineered BIT SMARTSOLUTIONS™ platform technologies reduce development cost and time-to-market; lean manufacturing centers and global supply chain enable competitive product cost.

Contact:
Executive VP, Jari Palander
Phone: +1 (949) 238 1277
J.Palander@BIT-Group.com
www.BIT-Group.com