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CLX picks up ThyroTest

This article was originally published in The Gray Sheet

Executive Summary

CLX Medical acquires ThyroTest rapid thyroid stimulating hormone screening device from ThyroTec for $750,000 and stock worth 15% of CLX, the company announces Sept. 16. With about 45 million lab tests conducted in the United States each year to diagnose thyroid dysfunction, CLX believes its FDA-cleared, CLIA-waived, qualitative, point-of-care blood test for hypothyroidism will be a "cost-effective first-step" for diagnosis. Under the terms of the deal, ThyroTec CEO Jim Small becomes a member of CLX's board of directors
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