BBI Solutions Announces Successful Closing of Acquisition of IBEX Technologies

Cardiff, UK – 8th April 2024 – BBI Solutions OEM Limited (BBI), the premier independent manufacturer of immunodiagnostic reagents globally, has announced the successful closing of the acquisition of IBEX Technologies Inc. (IBEX), a leading developer and manufacturer of high-precision enzymes and diagnostic solutions located in Montréal, Québec. This acquisition strategically enhances BBI’s capabilities to support In Vitro Diagnostic (IVD) manufacturers with the growing global demand for IVD haemostasis testing, driven by an ageing population, the rising prevalence of chronic diseases, and an increased reliance on point-of-care tests in surgery and trauma settings. By incorporating IBEX’s innovative enzyme technologies into its extensive portfolio of recombinant proteins, BBI is also responding to the notable industry shift towards recombinantly produced reagents for IVD tests, reflecting a growing preference for more standardized and reliable testing methodologies.  

Paul Baehr, Chairman, President, and CEO of IBEX also commented on the acquisition: “Joining the BBI family marks the beginning of a promising new chapter for IBEX, with exciting development opportunities for us and our Canadian partners on the horizon. We are eager to see the innovative solutions this partnership will bring forth.” 
 
BBI’s commitment to investing in the continuous growth and development of IBEX promises mutual benefits for customers and employees alike. All IBEX staff will transition to BBI, enjoying the benefits of being part of a renowned multinational organization, while customers can expect continued service excellence without interruption. 
 
This partnership is set to offer significant strategic advantages, including a more diversified offering for IVD customers and a reinforced position in the diagnostic enzymes market. Supported by BBI’s strong distribution and manufacturing framework, it lays a robust foundation for further growth and enhanced service capabilities across the Globe. 
 
In light of the successful closing of the transaction, IBEX has applied for delisting from the TSX Venture Exchange, which is expected to occur on or about Thursday, April 11, 2024.