Completion of Acquisition – Biocode Hycel
IDS, a leading producer of diagnostic testing kits, announces the completion of the acquisition of 99.93% of the ordinary share capital of Biocode Hycel S.A. (Biocode).
Biocode Hycel S.A. is in the final stages of developing a new generation of automation instruments, called the 3X3 Instrument. As announced on 4 December 2006, IDS already has a contractual working relationship with Biocode Hycel S.A. in that IDS is part of the Alliance that has been developing tests for this new platform.
For the year ending 31 December 2006, Biocodes EBIT was €-2.8m (c. £-1.9m), on a turnover of €12.1m (c. £8.1m). The acquired net assets as at 31 December 2006 (adjusted for the elimination of net cash/net debt and the alignment of accounting policies) were €3.2m (c. £2.1m).
Immunodiagnostic Systems Holdings plc
Parkgreen Communications Ltd
Dr. Roger Duggan, Managing Director
Tel: 0191 519 0660
Tel: 020 7851 7480
Landsbanki Securities (UK) Limited
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