Ampersand completes AccuMed merger

Ampersand Medical Corp, which develops cancer-screening systems, says ithas acquired all of the outstanding shares of AccuMed International in exchange for 4 million newly-issued and registered shares.

The new entity being created will be called Molecular Diagnostics, and chief executive Peter Gombrich said that "the combined resources, relationships and intellectual property have already accelerated our company's development." He added that the new name reflects its core business "which takes proven scientific advancements in genomics and proteomics, and develops them into sound commercial opportunities in the diagnostics market."

Mr Gombrich also noted that a reverse stock split has been authorized, adding that Molecular Diagnostics has filed a preliminary application for listing on the American Stock Exchange.