3 S.D. Firms Form a New Company
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An investor group that owns three San Diego medical technology companies on Monday consolidated their holdings into a new company called Diatek Corp, according to Phil Faris, CEO of the new company.
Diatek Inc., Neurometrics and Diatek Medical Technology (formerly Dade Medical) will function as wholly owned subsidiaries of the new company. Faris said the three companies had consolidated sales of $6.7 million for the fiscal year ended April 30, with the bulk coming from Diatek Inc.
Faris said the investor group initiated the merger to use Diatek Inc.’s “more predictable sales and earnings base” to balance a relatively new product line at Neurometrics and ongoing research and development efforts at Diatek Medical Technology.
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