Navigation Links
MediCult Acquires US-Based MidAtlantic Diagnostics to Further Strengthen ART Presence
Date:9/25/2008

Atlantic Diagnostics, to purchase the entire issued share capital for an up-front consideration of DKK 46 million in cash (USD 9 million) and deferred payments over a 3 year period of DKK 30 million (USD 6 million) in cash and DKK 2,5 million (USD 0,5 million) in MediCult shares. Of the upfront payment, DKK 40 million is being financed through a 5 year loan agreement with Danske Bank at a variable interest rate linked to CIBOR (Copenhagen InterBank Offered Rate). No agency fees have been paid by MediCult to any third party in the arrangement of the acquisition or the financing.

Based on preliminary estimates, MidAtlantic Diagnostics is expected to contribute to MediCult group proforma full year revenues of approximately DKK 68 million (USD 13,5 million) in sales for 2008 and DKK 12,7 million (USD 2,5 million) in EBIT before any inventory charges. MediCult expects to incur one-time legal and auditing fees of approximately DKK1 million (USD 0,2 million) at or before closing in connection with the transaction. The effective transaction date will be September 30th 2008, thus providing a 4th quarter effect of the MidAtlantic Diagnostics business on the MediCult accounts (fully acknowledging standard IFRS practice of writing acquiree's inventory up from cost to sales price at the time of take over).

Following the acquisition, MidAtlantic Diagnostics will become a wholly-owned subsidiary of MediCult and remain at its current location in Mount Laurel, New Jersey. The company resides within an 11,000 sq feet rented building containing offices, warehouses and cleanroom production facilities. Terry Fortino will hold the position of CEO of MidAtlantic Diagnostics and Executive Vice President in the MediCult group after completion of the transaction.
Closing of the transaction is expected at the latest November 15, 2008.

Transaction Rationale

MidAtlantic Diagnostics is a strategic fit for MediCult on several levels:

- Providing MediCul
'/>"/>

SOURCE MediCult a/s
Copyright©2008 PR Newswire.
All rights reserved

0

GOOD

Page: 1 2 3 4

Related biology technology :

1. Clinical Data Acquires Epidauros Biotechnologie AG, Significantly Enhancing Proprietary Genetic Biomarker Portfolio
2. Neogen Acquires Kane Enterprises
3. OncoVista, Inc. Closes on $6.8 Million Financing and Acquires Control of a Public Shell Company
4. Thermo Fisher Scientific Acquires Instrument Sales Business of Davis Inotek
5. United BioSource Acquires Interest in Leading Adaptive Design Technology Service Provider
6. NSF International Acquires David Begg Associates
7. United BioSource Acquires Caro Research, Leader in Simulation Modeling
8. Respironics Acquires Apollo Light Systems, Inc., Expands into Circadian Rhythm Device-Based Therapy Market
9. Thermo Fisher Scientific Acquires Logistics Provider to Strengthen Clinical Trials Management Services
10. Wyeth Pharmaceuticals Acquires Haptogen Ltd. to Boost Biotechnology Drug Discovery
11. Thermo Fisher Scientific Acquires Leader in Micro-Volume Spectrophotometers, NanoDrop Technologies
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:5/23/2013)... Die Übersetzungen wurden von PRNewswire ... der englischen Version handelt es sich um ... Teilnehmer einer groß angelegten Asthmaumfrage halten ihren Zustand für ... -Definition [1] als kontrolliert gelten können ... von vier Denkweisen zugeordnet werden können, die alle von ...
(Date:5/23/2013)... 23, 2013  BioScrip, Inc. (NASDAQ: BIOS ... the Jefferies 2013 Global Healthcare Conference to be held ... Richard Smith , President ... , Chief Financial Officer, will present on Monday, ... About BioScrip BioScrip, Inc. provides ...
(Date:5/23/2013)... Patheon Inc ., a leading provider ... pharmaceutical industry, will host a complimentary webinar on “Cleaning ... Tuesday, June 4, 2013 at 11 a.m. Eastern Standard ... comply with regulations for cleaning validation. Many companies ... and little evaluation of risk. Some companies have ...
(Date:5/23/2013)... The maker community is a contemporary group ... focus on learning practical skills while applying them creatively ... their ideas to life via crowdfunding. A subgroup within ... projects using biology. Glowing Plant has worked for months ... glow with bioluminescence genes, and has now pursued crowdfunding ...
Breaking Biology Technology:Neue Forschungsergebnisse zeigen Verbindung zwischen suboptimaler Asthmaversorgung und Patienteneinstellungen in Europa auf 2Neue Forschungsergebnisse zeigen Verbindung zwischen suboptimaler Asthmaversorgung und Patienteneinstellungen in Europa auf 3Neue Forschungsergebnisse zeigen Verbindung zwischen suboptimaler Asthmaversorgung und Patienteneinstellungen in Europa auf 4Neue Forschungsergebnisse zeigen Verbindung zwischen suboptimaler Asthmaversorgung und Patienteneinstellungen in Europa auf 5Neue Forschungsergebnisse zeigen Verbindung zwischen suboptimaler Asthmaversorgung und Patienteneinstellungen in Europa auf 6Neue Forschungsergebnisse zeigen Verbindung zwischen suboptimaler Asthmaversorgung und Patienteneinstellungen in Europa auf 7Patheon to Present on “Cleaning Validation: Science, Risk and Novel Approaches to Testing” 2Glowing Plant Releases Maker Kit, Enabling Anyone to Make a Glowing Plant at Home 2
... , June 30 BioSpace is showcasing pharmaceutical, biotechnological and ... , , , ... , , ... , The leading ...
... , June 30 TargeGen, Inc., a privately ... kinase inhibitors today announced that the Company has agreed to ... agreement, the ultimate purchase price will depend on the achievement ... if such milestones are fully realized. The closing of ...
... Sirius Genomics, a developer of pharmacogenomic diagnostics, announced today that ... , , , ... is on track with our existing products and looking to grow ... and medical device companies as well as experience in building collaborations ...
Cached Biology Technology:BioSpace Promotes the Northeast Corridor's Life Science Industry 2BioSpace Promotes the Northeast Corridor's Life Science Industry 3Sanofi-aventis to Acquire TargeGen, Inc. 2Sirius Genomics Announces Appointment of Senior Director of Business Development 2
(Date:5/24/2013)... disease, scientists have focused among other factors on ... it is the accumulation of A-beta that causes the known ... the formation of A-beta is APP. Alessia Soldano and Bassem ... of APPL the fruit-fly version of APP in ... (VIB/KU Leuven): "We have discovered that APPL ensures that brain ...
(Date:5/23/2013)... , Automated conserved noncoding sequence (CNS) discovery reveals ... , Within the genome of each species, there ... change in position and sequence over millions of years, ... these evolutionarily stable sequences, so-called conserved noncoding sequences (CNSs), ... or the condensation of chromosomes, but the function of ...
(Date:5/23/2013)... Pacific Northwest National Laboratory honored more than 165 ... intellectual property at PNNL,s annual Intellectual Property Commercialization ... Department of Energy national laboratory named materials scientist ... work developing battery materials that can store large ... grid, and reduce the time it takes to ...
Breaking Biology News(10 mins):A new strategy required in the search for Alzheimer's drugs? 2Frontiers news briefs: May 23 2Frontiers news briefs: May 23 3PNNL staff recognized for scientific accomplishments, moving technologies into the marketplace 2
... State University microbiologist Matthew Fields spends his days studying ... Fields studies the physiology and behavior of microbes ... square inch of the earth,s surface for the past ... Fields said. "They grow fast and in large numbers, ...
... discovered that a frog that lives near noisy springs in ... much like the tuner on a radio can shift from ... of an animal that can actively select what frequencies it ... effort led by the University of Illinois and the University ...
... is banned can have benefits that extend beyond the ... to new evidence from Australia,s Great Barrier Reef reported ... , a Cell Press publication. Researchers have found that ... ), which can devastate coral reefs, occur less often ...
Cached Biology News:MSU researcher uses grant to study little-known but largely useful microbes 2Ultrasonic frogs can tune their ears to different frequencies 2Ultrasonic frogs can tune their ears to different frequencies 3Fishing ban guards coral reefs against predatory starfish outbreaks 2
Immunogen GST fusion protein corresponding to full-length rat JNK3/ SAPK1b. Quality Assurance Routinely evaluated by immunoblot. Stability 2 years at -20°C from date of shipment GenBank A...
... in conjunction with the EasyCount System to count ... ViaSure Staining Reagent uses a mixture of ready-to-use ... Bromide to identify live and dead cells, respectively, ... 6 Multi-well Slide provides the ability to ...
... Bioconjugation Kit provides a powerful yet simple ... nuceleic acids. The kit provides the heterobifunctional ... for quantifying conjugation efficiencies. It enables conjugation ... and other tags with a variety of ...
... activated carrier proteins to simplify the ... Activated Carrier Proteins are commonly used ... a heterobifunctional cross-linker (Sulfo-SMCC). This activation ... protein. Thus allowing the maleimide-activated ...
Biology Products: