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Can Spectral and Metra Save Each Other?

Executive Summary

As young diagnostics companies struggle to survive, perhaps one of the most telling stories is that of Spectral Diagnostics Inc. and Metra Biosystems Inc. Once considered to be among the most promising start-ups of the crop that formed in the late 1980s and early 1990s, both companies have been struggling. Their proposed merger, announced in December, indicates just how ripe the diagnostics industry is for small-cap consolidation.
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