I came across this completely by accident but found it very exciting.
The idea began as a student project at Clemson University in South Carolina and they then went on to form a company Accessible Diagnostics LLC. They are currently winding there way through the regulatory process with the FDA.
A great article covering the development of this method is on HealthLine Printing Low Cost Glucose Test Strips Paper . The major parts needed are an injet printer and custom filled ink cartridges.
They've also developed a inexpensive screening method for diabetes:
This makes all sorts of ideas come to mind...