Advion Acquires Washburn

Advion BioSciences, Inc., through its BioSystems subsidiary, has acquired certain assets of its manufacturing partner, Washburn Manufacturing Technologies, Inc. Under the terms of agreement, Advion BioSystems will absorb the manufacturing operation and its employees effective immediately, including Tom Washburn, the founder of Washburn Technologies.
   
The transaction adds quick turn development prototyping, machining, injection molding, and enhanced assembly, test and quality functions to Advion’s capabilities. Also, the addition of in-house manufacturing allows Advion to better streamline its processes across current and future product lines.  
   
Thomas Washburn said, “I’ve worked with Advion for many years, and this acquisition is a natural fit. This will enhance the products we deliver.”
   
Advion’s chief executive officer, David B. Patteson, added, “Advion is devoted to providing the highest quality products to its customers, and this acquisition places us in a better position to accomplish this goal. Our growth profile has been notable over the past several years. We needed a more fully developed operations base to flex upward with our current systems platforms and those which are planned for launch over the next 18 months.”
   
Timothy McGrath, Advion’s senior vice president of operations added, “Insourcing our production is a key element in our ability to continue to provide world class delivery in support of significant future growth initiatives. We are fortunate to have the local skill sets that allow for this transition. It is envisioned that over the next 12 months all of Advion’s product platforms will be produced by the company’s employees in New York, including the NanoTek clinical diagnostic products, currently produced in Knoxville, TN.”