bioMerieux sells hemo line to Trinity for $60M
French in vitro diagnostics firm bioMerieux has signed an agreement to sell its hemostasis range of products to publically-listed Irish group Trinity Biotech.
bioMerieux' hemostasis line includes the MDA, MTX and Thrombolyzer platforms, as well as a comprehensive menu of reagents to analyze blood clotting parameters. The firm ranks fourth in the global hemostasis market, achieving sales of 45.0 million euros ($57.9 million) in 2005.
According to the French company, the transaction is perfectly aligned with its strategic commitment to focusing on operations related to infectious diseases, cancer and cardiovascular diseases, as well as to industrial applications. The total value of the deal could be as much as nearly $60.0 million, including the proceeds from assets sold, receivables to be collected as well as the sum of $5.5 million, which is contingent on meeting the business' 2006 objectives.
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