Sanford Health Buys Biotech Company Hematech
SIOUX FALLS, S.D. (AP) - Dakotas-based Sanford Health says it has acquired Sioux Falls-based biotech company Hematech.
Hematech is a subsidiary of Japanese pharmaceutical company Kyowa Hakko Kirin Co. Ltd. Sanford Health is based in Sioux Falls, S.D., and Fargo, N.D.
Sanford says the new company will be rebranded Sanford Applied Biosciences LLC. Terms of the Dec. 31 deal were not disclosed.
Sanford senior executive vice president Dave Link says Hematech has been conducting cutting-edge research in Sioux Falls for more than a decade. Links says that by coming together, Sanford can build on Hematech's expertise and technology and bring about new solutions to serious health issues.
Hematech occupies more than 20,000 square feet of laboratory and office space in the Sioux Falls Technology Park.
Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.