Oxis International Acquires Innovative Medical Systems

Oxis International (Portland, OR), specializing in medical products and technologies to treat and prevent diseases caused by oxidative stress, has completed the acquisition of 100 percent of the issued and outstanding capital stock of Innovative Medical Systems Corp. (IMS; Ivyland, PA). IMS shareholders will receive a minimum payment of $2,000,000 and up to a potential maximum of $4,250,000. These payments will be made in shares of OXIS common stock over the next five years based on IMS' yearly performance.

IMS specializes in the design, development and manufacture of custom instruments for the biomedical, industrial and consumer marketplaces. According to Oxis senior vice president Humberto Reyes, the company will combine Oxis and IMS technologies to produce a fully automated instrument to run a wide array of diagnostic tests, including Oxis proprietary oxidative stress assays.