WORCESTER, Mass.—Continuing to act on its recently announced growth plans, natural rubber latex manufacturer Vystar Corp. has acquired "substantially all" of the assets of air filtration company UV Flu Technologies Inc.
UV Flu sells the patented ViraTech UV light air purification technology, which Vystar claims destroys more than 99 percent of airborne bacteria, viruses and other micro-organisms, while virtually eliminating concentrations of odors and volatile organic compounds.
"We are executing our strategic plan of rapid growth through acquisitions that complement our product portfolio," Vystar CEO Steven Rotman said in a statement.
UV Flu products use 48 inches of high-intensity germicidal UV lamps, and its products actually kill micro-organisms rather than trapping them, setting them apart from other air filtration units.
UV Flu's RxAir filtration system is one of the few UV air purifiers that have been proven in independent laboratories certified by the Food and Drug Administration and the Environmental Protection Agency to destroy 99.6 percent of harmful micro-organisms on the first pass, according to Vystar.
"As part of Vystar's mission to offer eco-friendly, sustainable materials and products that create a better environment for consumers and workers throughout the product lifecycle," Rotman said.
Vystar acquired all UV Flu intellectual property and multiple patents, product lines, tooling, FDA clearances, research data, websites and other assets for $975,000 or 27.9 million shares of Vystar restricted common stock.
Vystar is the manufacturer of Vytex, a pure grade of natural rubber latex that is biodegradable, sustainably sourced and three times as durable as other latexes on the market, according to the company. Vytex is virtually free of allergens, odor and VOCs, Vystar claims, noting that it is used in many mattress lines, and also in products including industrial adhesives, apparel padding and threads, shoes, sports equipment and electrical gloves.
On April 23, Vystar announced it had acquired the assets of NHS Holdings L.L.C., the company founded by Rotman that served as Vystar's exclusive U.S. distributor. Shortly thereafter, the firm announced it had paid off all of its $1.135 million long-term convertible stock for $795,000 of restricted Vystar common stock.