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May 16, 2007

Bio-Rad Acquires DiaMed For Over $391M

  • Bio-Rad Laboratories plans to acquire DiaMed Holding for CHF 477 million, or approximately $391.48, through a definitive agreement. This price covers 77.7% of DiaMed’s outstanding shares.

    DiaMed holds approximately 9.6% of its outstanding shares as treasury shares. After the closing of this transaction, Bio-Rad reports that it will conduct a tender offer to acquire the remaining 12.7% outstanding shares.

    “DiaMed has an outstanding reputation for quality products and customer care,” reports John Goetz, Bio-Rad vp and group manager, clinical diagnostics. “We believe this portfolio of products will fit in well with Bio-Rad’s existing diagnostics business.”

    DiaMed develops, manufactures, and markets a complete line of reagents and instruments used in blood typing and screening. The company has annual sales of approximately $200 million to hospitals, clinical laboratories, and blood banks in more than 100 countries, according to Bio-Rad.

    Bio-rad expects to close the acquisition later this year.



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Scientifically Studying Ecstasy

MDMA (commonly known as the empathogen “ecstasy”) is classified as a Schedule 1 drug, which is reserved for compounds with no accepted medical use and a high abuse potential. Two researchers from Stanford, however, call for a rigorous scientific exploration of MDMA's effects to identify precisely how the drug works, the data from which could be used to develop therapeutic compounds.

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