A capital contribution agreement was entered into by and between JIC Investment and Sinocare Inc. (“Sinocare”) on May 20, 2016. Under this agreement, the two companies will acquire full ownership of Polymer Technology Systems, Inc. (“PTS”), with JIC Investment holding a 26.49% stake in PTS after completion of the deal.

Founded in 1992 and headquartered in Indianapolis, Ind., PTS is a leading point-of-care diagnostics solutions provider. The company’s signature products include the CardioChek family of lipid and glucose analyzers and products, as well as A1CNow portable analyzers for HbA1c measurement, which are marketed in 135 countries and regions around the world. Sinocare is an industry leader in blood glucose monitoring. Over the past decade, the company has grown into one of Asia’s largest blood glucose monitor suppliers, accounting for over 20 percent of China’s retail market for blood glucose monitors. 

Meanwhile, the company has already identified a strategic goal of shifting from being a domestic advocate for blood glucose monitoring to a global expert in blood glucose monitoring and diabetes management, in a bid to enable an integrated model of growth in technology, products and market at home and abroad through cross-border M&As and a holistic approach to diabetes management through a broadened portfolio of product and service offerings.

The deal marks a successful milestone in JIC Investment’s transition. Since 2015, JIC Investment has refocused on tracking key areas and key clients instead of any single project. The partnership between JIC Investment and Sinocare, started in 2014 and has fueled Sinocare’s first overseas acquisition, demonstrating the long-term mutual trust fostered over these years. Looking ahead, JIC Investment will continue to work closely with Sinocare in future acquisition and consolidation efforts.