Gentre Laboratories, a Laguna Hills company that plans to buy research and manufacturing firms in the medical field, says it has accomplished its first acquisition: Somas Medical Industries, a small Santa Ana maker of diagnostic reagents and controls.
The transaction, valued at $3.5 million, involved the payment of 2.7 million shares of Gentre stock and an undisclosed amount of cash.
Gentre President Jonathan D. Sterns said he postponed the announcement of the purchase, which occurred in September, until his firm completed a name change. Gentre Laboratories formerly was called Genex Industries. Sterns said there was concern that it might be confused with another firm, Genex Corp. in Maryland.