Immucor To Acquire BioArray Solu...(ty to accelerate thecommercialization of...)

Date:3/11/2008

ty to accelerate the commercialization of our technology. We believe Immucor's proven capabilities in providing automated platform solutions, and its FDA licensing expertise, established distribution network, and financial resources will facilitate a more rapid and extensive introduction of our BeadChip(TM) products than BioArray could accomplish on its own."

The purchase price will be approximately $117 million in cash.

The current equity holders of BioArray intend to form a new company prior to closing to commercialize BioArray technologies in fields outside of blood transfusion and transplantation. In connection with its acquisition of BioArray, Immucor will receive a 19% ownership interest in this new company.

Closing of this acquisition is conditioned upon, among other matters, receipt of regulatory approvals including pre-merger notification clearance under Hart-Scott-Rodino.

Immucor expects this acquisition to be materially dilutive to earnings per share for several years following closing as key investments are made in research, development, and the automation and marketing of the BioArray product line. In its first full year of ownership, Immucor expects that this acquisition will reduce diluted earnings per share by approximately $0.20 to $0.23 per share, including approximately $0.05 per share of non-cash amortization of acquired intangible assets.

Immucor, Inc. will host a conference call March 12, 2008 at 8:30 a.m. (EDT) to discuss this acquisition. Investors are invited to participate in this conference call with Dr. Gioacchino De Chirico, President and Chief Executive Officer; Rick Flynt, Chief Financial Officer; Phil Moise, General Counsel; and Ed Gallup, consultant. This press release will be posted on Immucor's website, as well as any material financial information that may be discussed by Messrs. De Chirico, Flynt, Moise or Gallup during this call that is not contained in the press release. Both this press releas
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SOURCE Immucor, Inc. Copyright©2008 PR Newswire. All rights reserved

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