Subsidiary Being Formed by Hycor Biomedical Inc.

Hycor Biomedical Inc., a Fountain Valley-based developer of diagnostic products used in clinical laboratories, is forming a subsidiary to distribute a line of chemistry analyzers that can run up to 33 blood tests at a time and will cost $75,000 per instrument.

Hycor Instruments Inc. will distribute the line, which is manufactured by JEOL Ltd. of Tokyo. A Hycor spokesman said the new subsidiary will create about 50 jobs in its first three years of business and bring in about $10 million in net sales in the next two years. Hycor Biomedical currently has annual net revenues of about $7 million.