OB Tech Is Sold to Utah-Based Maker of Medical Devices
HUNTINGTON BEACH — OB Tech Inc., which is developing a unique disposable system called Cordguard for sampling blood from umbilical cords, has been sold to a Utah medical device manufacturer for $2.5 million.
The Huntington Beach company’s deal with Utah Medical Products, announced in August, was completed after Utah Medical studied the effectiveness and profit potential of Cordguard. The device allows doctors to stop the flow of blood from newly cut umbilical cords and take sterile samples for laboratory analysis.
Cordguard, not yet on the market, is expected to carry a retail price of $15 to $20. Utah Medical hopes to corner the entire market, which would cover 3 million babies born each year in the United States, and bring in up to $60 million in annual revenue.
