ANTEOTECH LIMITED - Anteo Diagnostics Limited has completed the acquisition of DIAsource Immunoassays SA.
- DIAsource will be the cornerstone of Anteo's diagnostics division.
- DIAsource 2015 revenue was €14.1m, a 19% increase over 2014.
The purchase is in accordance with the vendor funding agreement for €7.7m announced on 6 January 2016, payable over a four-year term.
Dr Geoff Cumming, CEO of Anteo made the following observations.
"Completing the transaction is a critical step in implementing our corporate strategy. This transaction transforms Anteo.
The acquisition of DIAsource as an established vertically integrated diagnostics company now provides the cornerstone to grow our diagnostics business in coordination with Anteo Technologies. DIAsource brings multiple attributes that our diagnostics customers want from Anteo, and Mix&Go provides a long-term growth path for the core DIAsource assets.
Our joint vision for the diagnostics division is: "To be a commercially successful organisation that contributes to better healthcare through the development, manufacture and sales of innovative diagnostic kits and solutions."
DIAsource will continue to drive forward in the key niche it has identified and to expand its capability utilising Mix&Go, whilst acting as a vanguard and industry benchmark for Mix&Go technology products.
The revenue achieved by DIAsource of €14.1m, a growth of 19% in 2015 over 2014, is testament to the clear focus and implementation of its business plan."
For further information, see our website (www.anteodx.com) or contact the persons outlined below.
Company | Media and Investor Relations |
Dr. Geoff Cumming, Chief Executive Officer | Jane Lowe, IR Department |
T: + 61 7 3219 0085 | E: jane.lowe@irdepartment.com.au |
T: + 61 411 117 774 | |
Richard Martin, Chief Financial Officer | |
T: + 61 7 3219 0085 |
About Anteo
Anteo Diagnostics Limited (ASX: ADO) is a global medical technology company, developing and commercialising products for sale into the life sciences, in-vitro diagnostics, point of care, medical devices and bioseparations markets.
The Anteo group owns a patented nanoglue technology, which is used by healthcare customers for incorporation into their existing tests and tests under development, to consistently enable laboratory test results that can either be delivered faster, cheaper, or with greater specificity or sensitivity than incumbent tests.
This nanoglue technology, called Mix&Go for healthcare markets, is starting to gain traction with the Company's target markets, due to its ability to revolutionise the way scientists work.
While Anteo is largely focused on the healthcare markets, the nanoglue technology also has potential for use in other areas, such as batteries. Early stage research is being conducted into the viability of this battery product.
For more information, please visit www.anteodx.com
About DIAsource
DIAsource ImmunoAssays S.A. is a global specialty diagnostics company that develops, manufactures, markets and distributes clinical diagnostic products in the field of endocrinology, with a leading portfolio of Vitamin D products and comprehensive catalogue of ELISA and RIA products offered to customers worldwide. DIAsource is a vertically integrated company, from R&D and antibody production through to customer service solutions that include lab automation instrumentation.
DIAsource is present in 75 countries and sells products both directly and through a global network of 90 main distributors and 40 OEM partners.
For more information, please visit www.diasource-diagnostics.com.
Anteo Diagnostics Limited issued this content on 2016-01-11 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 2016-01-11 22:19:08 UTC
Original Document: https://wcsecure.weblink.com.au/clients/anteodx/headline.aspx?headlineid=2901495
