Bio-Rad signs deal with DiaMed:
This article was originally published in Clinica
Life science research and clinical diagnostics specialist Bio-Rad last week signed a definitive agreement to acquire 77.7% of shares in DiaMed, a Swiss test system manufacturer. The agreement will see Bio-Rad pay SFr477m ($389m) in cash for the shares; DiaMed will retain 9.6% of its stock as treasury shares, while Bio-Rad will offer to purchase the remaining 12.7% after the initial deal has been closed later this year. Bio-Rad (Hercules, California) will inherit from DiaMed a comprehensive line of reagents and instruments, used in blood typing and screening, which generated annual revenues of approximately $200m from sales to hospitals, clinical labs and blood banks in over 100 countries.