Nephros Inc. acquired Henderson, Nev.-based provider of water treatment solutions Biocon 1 LLC for about $3.4 million.

According to Nephros, the companies have worked together since 2015 and Biocon's broad portfolio has contributed to 85% increase in its revenue in 2018.

South Orange, N.J.-based Nephros' payments are subject to Biocon's net revenue performance in 2019 and 2020.

Nephros sells a portfolio of filtration systems used for removing biological contaminants and for treating water in hospitals and healthcare facilities.