A little news from the competition... Excerpt from their quarterly
earnings announcement.
WALTHAM, Mass.--(BW HealthWire)--Aug. 11, 1998--Hemagen
Diagnostics, Inc. (NASDAQ:HMGN)(NASDAQ:HMGNW)(BSE:HGN)
....On January 13, 1998, the company announced that it had signed a
letter of intent to acquire the Analyst instrument from Dade Behring,
Inc. The Analyst is a versatile bench top centrifugal clinical
chemistry analyzer, which focuses on both the physician and the
veterinary office laboratory. The instrument is easy to use, cost
effective, very reliable, and can provide results of a panel of
clinical chemistries in ten minutes, including cholesterol, glucose,
triglycerides, and bilirubin.
The consummation of the acquisition is subject to Hemagen
completing its due diligence investigation of the Analyst business,
the financing of the acquisition and ultimately the execution of a
definitive written agreement with Dade Behring. The execution of the
final documents should be consummated on or before August 31, 1998,
barring any unforeseen complications. The Company believes that the
Analyst system is extremely attractive in today's clinical chemistry
market and serves well to complement our RAICHEM division in
California.
With the Analyst in place, Hemagen will emerge as a significant
force in the clinical chemistry arena and the acquisition will allow
for many opportunities to enhance the Company's other product lines.
Plans for new product development for the Analyst are already
underway, with the primary focus being on a new reagent rotor for the
veterinary market.
Hemagen Diagnostics, Inc. develops, manufactures and markets more
than 110 FDA-cleared proprietary medical diagnostic test kits used to
aid in the diagnosis of autoimmune and infectious diseases and to
measure important constituents in human blood. The company focuses on
markets which offer significant growth opportunities. |
