26 August 2015 – The Board of Directors of Anteo Diagnostics (ASX: ADO) (Anteo) is pleased to announce that it will acquire DIAsource ImmunoAssays, SA (DIAsource), an established global specialty diagnostics company based in Belgium, pursuant to a Share Purchase Agreement executed yesterday (Agreement).
DIAsource is a vertically-integrated specialty diagnostics company that develops, manufactures, markets and distributes clinical diagnostics products in the fields of endocrinology, especially bone metabolism, fertility, cardiovascular and oncology.
DIAsource is a truly international company that services customers in 75 countries worldwide; and sells products both directly and through a global network of 90 main distributors and 40 OEM partners.
The Company generated revenue of €11.9m (A$18.0m) in 2014 and €7.2m (A$10.9m) in the first half of 2015. This represents revenue growth of 25% with an average EBITDA margin of 20.6% this year. DIAsource recently achieved its fifth consecutive revenue growth quarter and fifth consecutive best quarter ever in the company’s history, thanks to growth in its Vitamin D portfolio and its established line of specialty RIA and ELISA assays, two different forms of immunoassays.
BRR Radio: Dr. Geoff Cumming, CEO, Anteo Diagnostics Discusses DIAsource Acquisition
In this audiocast, Dr Cumming covers:
- An overview of the transaction, including an introduction to DIAsource, the markets it services, company fundamentals and recent performance
- Anteo’s view on what makes the Anteo / DIAsource combination a good strategic fit
- Financing and the anticipated timeframe to complete the acquisition
To listen to the audiocast, follow this link: http://www.brrmedia.com/event/140153