ERBA Diagnostics, Inc. (AMEX:ERB) acquired Drew Scientific Group, Inc. from Escalon Medical Corp. (NasdaqCM:ESMC) for $6.5 million on October 3, 2012. ERBA funded the acquisition through proceeds from an additional investment of $6.5 million from ERBA Mannheim GmbH in ERBA common stock. Escalon Medical reported revenues of $13 million for the 12 months ended June 30, 2012. F. Mark Reuter and Bryan A. Jacobs of Keating, Muething & Klekamp, PLL and Kathleen Shay and John Kauffman of Duane Morris LLP acted as legal advisors to ERBA Diagnostics and Escalon Medical Corp in the transaction respectively.

ERBA Diagnostics, Inc. (AMEX:ERB) completed the acquisition of Drew Scientific Group, Inc. from Escalon Medical Corp. (NasdaqCM:ESMC) on October 3, 2012.