Tecan completes sale of sample management unit

Tecan has completed the previously-announced sale of its sample management business REMP to Nexus Biosystems.

The science firm has divested ownership of the subsidiary as planned and outlined in a statement in July 2010, as well as selling off assets related to the REMP business.

Having completed the move on September 1st 2010, REMP will no longer be consolidated within the Tecan group and will be listed as a discontinued operation in financial reports later this year.

The sale of REMP to Nexus Biosystems was valued at around 12 million Swiss francs (7.7 million pounds), while Tecan will continue to receive payments based on the business' product sales until the end of 2012.

According to Tecan, the sale is part of a wider strategic portfolio alignment which will allow the firm to augment its business in other areas.

Thomas Bachmann, chief executive officer of Tecan, explained: "We will increasingly focus resources on growth projects in our life sciences core markets and actively expand our end-customer business and our original equipment manufacturer activities."