Ireland's Trinity Biotech said it has signed a tentative deal to acquire the hemostasis division of Nasdaq-listed Sigma-Aldrich Corp unit Sigma Diagnostics for an undisclosed sum.
But Trinity did say it plans to pay cash for the business and added its whole hemostasis operation is expected to generate revenues of about $19 million in the first year following completion, comprising $11 million in sales from the Sigma Diagnostic products and $8 million from its Biopool products.
Trinity said Sigma Diagnostics' hemostasis business includes a portfolio of reagents for drug development tests made in St Louis, Missouri and the 'Amelung' range of automated and semi-automated medical instruments manufactured in Lemgo, Germany.
Trinity said that on completion it plans to move the test manufacturing from St Louis to Dublin to cut costs.
Trinity Biotech develops diagnostic products for use in hospitals and laboratories and for self-testing.
AFP