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Home Industry News Bio-Rad Laboratories purchases Diamed

Bio-Rad Laboratories purchases Diamed

3rd October 2007

Bio-Rad Laboratories yesterday announced the completion of the acquisition of Diamed.

The firm reports that it completed the purchase of some 77 per cent of the outstanding shares of Diamed for approximately 477 million Swiss francs (199 million pounds)

Diamed holds an estimated 9.6 per cent of its outstanding shares as treasury stakes in the company, according to Bio-Rad.

Within the next year, the firm has stated that it will conduct a tender to acquire the remaining 12.7 per cent of outstanding shares.

Norman Schwartz, president and chief executive of Bio-Rad Laboratories, stated that the firm was "very pleased" to have Diamed join Bio-Rad.

"DiaMed has an exceptional reputation for quality and customer care and we believe the company and its portfolio of products will fit in well with Bio-Rad’s current diagnostics business," he said.

Last month, the firm announced the launch of a test for syphilis to be used on its BioPlex 2200 system.

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