Strong Growth Prompts Nova Biomedical to Increase Manufacturing Capability With Purchase of 80,000-Square-Foot Facility

Posted February 12th, 2012.

Waltham, MA, January 2011 — Nova Biomedical today announced that, in response to rapid growth in its diabetes and whole blood point-of-care testing products business, it has purchased an additional 80,000 square-foot manufacturing/warehouse facility in Billerica, MA. According to Lou Borrelli, Nova Biomedical CFO, “This additional state of the art manufacturing facility will ensure that our manufacturing capabilities keep pace with the increasing demand for our StatStrip Hospital Glucose products as well as our Nova Max consumer diabetes products.”

One of the main drivers for Nova’s strong growth is the rapid adoption of its StatStrip Hospital Glucose Monitoring System. Since its inception just four years ago, StatStrip has become the fastest growing hospital glucose meter in the world. StatStrip uses a novel glucose test strip technology that measures hematocrit and other common interferences such as maltose, galactose, xylose, acetaminophen, ascorbic acid and oxygen, and eliminates erroneous glucose results caused by these interfering substances. StatStrip lab-like accuracy and freedom from interference has been validated in more than 50 published clinical studies worldwide, in a broad variety of critical care settings including ICU, Dialysis, NICU, OR, ED, and Tertiary Care. This remarkable rate of StatStrip publications by some of the world’s leading hospitals, is testimony to the importance of this technology breakthrough for bedside glucose testing and suggests the reason for its popularity.

About Nova Biomedical
Nova Biomedical, incorporated in 1976, is a world leader in the development and manufacturing of state-of-the-art whole blood chemistry analyzers. The Nova product line ranges from small single-test meters for glucose self-testing and hospital-based point of care testing to full critical-care whole blood analyzers designed for rapid measurement of over 20 analytes. Nova products are used by small, medium, and large hospitals, as well as integrated health networks, to improve patient outcomes and reduce the cost of care.