10th Sep 2014 07:00
LONDON (Alliance News) - Immunodiagnostic Systems Holdings PLC Wednesday said it had bought Italian manual immunoenzymatic assay developer Diametra, an acquisition that will bolster its endocrinology pipeline and give it additional development and manufacturing capabilities.
It didn't say how much it has paid for the business, which is based in Umbria and has a staff of about 25.
Diametra made revenue of EUR3.3 million and earnings before interest and tax of EUR0.3 million in 2013.
In a statement, Immunodiagnostic Systems said it has been collaborating on the conversion of one of Diametra's manual assays onto the fully automated IDS-iSYS instrument for the past nine months. Following the acquisition, the company wants to convert a number of Diametra's steroid hormones manual assays onto its IDS-iSYS automated instrument.
"We continue to pursue complementary acquisitions that will help us grow our specialist endocrinology menu and build operational excellence," Immunodiagnostic Systems Chief Executive Patrik Dahlen said.
By Steve McGrath; [email protected]; @stevemcgrath1
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