You are given a text that consists of multiple sentences. Your task is to perform abstractive summarization on this text. Use your understanding of the content to express the main ideas and crucial details in a shorter, coherent, and natural sounding text.

BOCA RATON, Fla., June 16, 2020 /PRNewswire/ --KRS Global Biotechnology, Inc., a market-leading registered and inspected 503B Human Outsourcing Facility, is under new ownership and management as of Q1 2020. Cleveland Diabetes Care, Inc. (CDC), a clinical-stage biopharmaceutical, gene therapy, and medical devices technologies company based in Boca Raton, Florida, acquired KRS and is dedicated to its continued expansion.Led by Charles Richardson, MD, MBA, Founder and CEO of CDC and his executive team, KRS is committed to remaining a leader and innovator in providing sterile and non-sterile compounding services to patients, hospitals, and surgery centers domestically and internationally. "We couldn't be happier about acquiring an absolutely essential service organization like KRS as we endure this trying time as a nation. Furthermore, we are working toward having the ability to produce our own APIs [active pharmaceutical ingredients] in-house, which will create a significant increase in value and quality to our patients, clients and partners," says Dr. Richardson. Additionally, Dr. Richardson said, "We are also extremely proud to have helped so many patients throughout the country as they battle COVID-19. As soon as we saw the critical need in hospitals for vasopressors, paralytics, and pain relievers, such as fentanyl, for ventilated patients, we immediately jumped in to assist.Our entire team knows the difference that they are making in people's lives.The value of that cannot be put into words." For more information please visit: www.KRSBio.com For sales please contact: Stephen Duffie[emailprotected] SOURCE KRS Global Biotechnology, Inc.

Answer: KRS Global Biotechnology Acquired By Cleveland Diabetes Care World-Renowned Dr. Charles Richardson to lead the company's expansion