DGAP-News: STRATEC Biomedical AG / Key word(s): Takeover/Acquisition
STRATEC to acquire hematology system specialist Diatron
23.03.2016 / 21:38
The issuer is solely responsible for the content of this announcement.
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STRATEC to acquire hematology system specialist Diatron
- Global OEM provider covering broad spectrum of applications from
point-of-care solutions through to solutions for medium-sized hospitals
- Extends portfolio with the addition of hematology analyzer systems and
tests spanning the lower throughput range
- Enables diversification by extending customer base and value chain
coverage
- Boosts consumables product range
- Synergies expected in development and production
Birkenfeld, March 23, 2016
STRATEC Biomedical AG, Birkenfeld, Germany (Frankfurt: SBS; Prime Standard,
TecDAX), has entered into an agreement with the global private equity firm
The Riverside Company, headquartered in New York and Cleveland governing
the full acquisition of Diatron MI PLC, Budapest, Hungary, its US affiliate
company and the superordinate holding structure. Diatron designs and
manufactures system solutions for hematology applications, as well as
related consumables. The transaction is expected to close near the end of
this month.
Diatron was founded more than 25 years ago and supplies analyzer systems
and complementary products to more than 100 countries, as well as
consumables and services for use in human and veterinary diagnostics. Among
its customers are well-known life science companies with global operations.
In the past financial year, the company generated sales equivalent to
around EUR 34 million with profitability comparable to the STRATEC Group's.
The acquisition is expected to be accretive to the Groups earnings in 2016.
The company has about 200 employees working mainly in development,
production and sales at locations in Hungary and the US.
"With Diatron, we are extending our range of products and our customer base
in a highly attractive market segment", commented Marcus Wolfinger,
Chairman of STRATEC's Board of Management. "By acquiring this highly
innovative OEM provider, we are boosting STRATEC's activities in
forward-looking areas without altering our business model. To date,
STRATEC's core competence has involved designing and manufacturing systems
for blood grouping and typing, molecular diagnostics, and immunoassays.
These areas will now be supplemented with products and expertise in
hematology. With this, we also remain in line with our strategic value of
not entering into competition with our customers and partners, whether on
the product front or by way of acquisitions."
Dr. Claus Vielsack, the member of STRATEC's Board of Management responsible
for product development added: "With Diatron, we are diversifying our range
of products and services and gaining access to new customers. At the same
time, we will be tapping synergies in our development, supply chain and
production activities. Diatron offers impressive proof of the growth
potential available in this market segment."
Jim Schepp, CEO of Diatron commented: "We are delighted to take our
activities to the next level with STRATEC. The strengths of our two
companies will offer tremendous new opportunities for developing and
marketing diagnostics solutions to our customers worldwide."
Diatron's OEM portfolio chiefly comprises analyzer systems, system
components, consumables and tests in the lower throughput segment for
hematology applications. Throughput describes the frequency of tests
performed in a specified period. To date, STRATEC has focused on the medium
throughput range. Extending its value creation in the field of
decentralized laboratory solutions - typically smaller to medium-sized
hospitals, group practices, and laboratories - therefore represents a
highly complementary addition to STRATEC's expertise and product portfolio.
Diatron's development and production activities in Budapest, Hungary meet
all regulatory requirements for all major markets. STRATEC expects to
benefit from synergies, particularly in developing and manufacturing
consumables, modules for complete analyzer systems, and smaller systems.
Diatron's platform-based development approach is similar to STRATEC's, as
is its OEM partnership-based market access structure. The systems offered
by Diatron are especially suited for countries with highly decentralized
healthcare systems, as is often the case in emerging and developing
economies.
The parties have agreed to maintain confidentiality concerning the purchase
price.
Conference call and audio webcast
To report on the acquisition of Diatron we will be holding a conference
call in English tomorrow, Thursday, March 24, 2016 at 3.00 p.m. (CET).
To take part in the conference call, please use the following dial-in
numbers:
Dial-in numbers:
+49-69-2222-10639 (DE)
+44-20-3427-1925 (UK)
+1-646-254-3376 (USA)
+33-1767-72244 (F)
Conference Code: 1604901
Participants are requested to dial in ten minutes before the conference
call starts.
The conference call can also be watched as an audio webcast at
www.stratec.com/audiowebcast201603 (brief registration required). Please
note that no questions can be submitted via audio webcast.
You can also watch and download a slide presentation via audio webcast at
www.stratec.com/audiowebcast201603 (brief registration required).
About STRATEC
STRATEC Biomedical AG (www.stratec.com) designs and manufactures fully
automated analyzer systems for its partners in the fields of clinical
diagnostics and biotechnology. These partners market such systems, in
general together with their own reagents, as system solutions to
laboratories, blood banks and research institutes around the world. The
company develops its products on the basis of its own patented
technologies.
Shares in the company (ISIN: DE000STRA555) are traded in the Prime Standard
segment of the Frankfurt Stock Exchange and are listed in the TecDAX select
index of the German Stock Exchange.
Further information can be obtained from:
STRATEC Biomedical AG
André Loy, Corporate Communications
Gewerbestr. 37, 75217 Birkenfeld
Germany
Tel: +49 7082 7916-190
Fax: +49 7082 7916-999
ir@stratec.com
www.stratec.com
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23.03.2016 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: STRATEC Biomedical AG
Gewerbestr. 37
75217 Birkenfeld
Germany
Phone: +49 (0)7082 7916 0
Fax: +49 (0)7082 7916 999
E-mail: info@stratec.com
Internet: www.stratec.com
ISIN: DE000STRA555
WKN: STRA55
Indices: TecDAX
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover,
Munich, Stuttgart, Tradegate Exchange; Terminbörse EUREX
End of News DGAP News Service
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448529 23.03.2016
DGAP-News: STRATEC to acquire hematology system specialist Diatron
| Source: EQS Group AG