bioMerieux makes significant US acquisition in molecular biology

French in vitro diagnostics firm bioMerieux (Euronext: BIM) has entered into an agreement to acquire BioFire Diagnostics, a privately held USA-based company specialized in molecular biology.

Under the terms of the accord, bioMerieux will acquire 100% ownership of BioFire. The transaction will include a $450 million acquisition price and the company’s net financial debt. Completion of this acquisition remains subject to usual closing conditions, in particular certain regulatory approvals. The deal is expected to close by the end of the fiscal year or in early 2014 and consequently will not have a significant impact on sales and current operating income before non-recurring items in 2013, noted bioMerieux.

Acquisition costs will amount to 6 million euros ($7.9 million) to be recorded under non-recurring items. This acquisition will be funded through indebtedness. In July 2013, the Company obtained an additional line of credit. Its loan facilities now total 500 million euros with maturity dates of July 2014 (150 million euros) and March 2017 (350 million euros).