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Cytyc creates subsidiary in Spain
October 14, 2002
By Dyke Hendrickson
Cytyc Corp. in Boxborough has announced the opening of Cytyc Iberia S.L., a subsidiary located in Barcelona, Spain, and servicing Spain and Portugal. Financial details were not disclosed.
Cytyc develops, manufactures and markets products for medical diagnostic applications primarily focused on women's health.
Cytyc's ThinPrep System is used for cervical cancer screening and serves as a platform for the company's expansion into breast cancer risk assessment with the FirstCyte Ductal Lavage device.
With a combined population of 50 million people, Spain and Portugal represent a significant market opportunity for the increased expansion of the ThinPrep System in Europe, company officials say.
The creation of Cytyc Iberia increases the company's international presence, joining operations in the United Kingdom, Switzerland, Germany, Sweden, France, Italy and Asia Pacific-Australia.
Cytyc has made progress in its European marketing efforts with the recent announcement by the Scottish government that $4 million would be invested in the Scottish Cervical Screening Programme to implement liquid-based cytology.
"The creation of Cytyc Iberia is an important step in the international expansion of Cytyc Corporation's business," said Chris Bleck, Cytyc's vice president of commercial operations.
"Cytyc is committed to bringing the ThinPrep Pap Test to women in Spain and Portugal, assuring that they will receive a significantly more effective Pap test."
SOURCE: Mass High Tech
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