Trinity to grab share of $450m troponin testing market with Fiomi buy
This article was originally published in Clinica
Executive Summary
In line with its strategy to focus on the point-of-care (POC) testing market, Irish diagnostics firm Trinity Biotech has acquired Fiomi Diagnostics, a Swedish developer of POC cardiac tests, for $13.1m. The price consists of an upfront payment of $5.6m, 408,000 American depositary receipts in Trinity worth $4.1m, and $3.4m in milestone payments, contingent on CE marking and FDA approval of Fiomi's lead product, a POC troponin I assay.