Immucor Announces Acquisition of French and Belgian Distribution Rights
NORCROSS, Ga., March 15 /PRNewswire/ -- Immucor, Inc. (Nasdaq: BLUD), a leading provider of blood bank reagents and related products, today announced that it has acquired the distribution rights to market its products in France and Belgium through the purchase of its former distributors, Immunochim (France) and Medichim (Belgium), for a combination of cash, Immucor stock options and an incentive earn out. The transaction is expected to be immediately accretive to earnings.
As part of the transaction, Alphonse Pierard, co-founder and managing director of Medichim and Immunochim, has agreed to work with Immucor for a minimum of three years.
"This acquisition is the latest in our strategic initiative to consolidate the worldwide market for blood products and it positions Immucor as one of only two companies with a direct global presence in blood serology," said Edward L. Gallup, Immucor's President and Chief Executive Officer. "The French market for blood products is the second most important in Europe and the additional presence that we can achieve through direct marketing of our products will allow us to take advantage of the large potential for instrumentation placements."
"We have enjoyed a long, productive relationship with Medichim and Immunochim. We believe that dealing directly with our customers in France and Belgium will enable us to enhance the quality of service we provide." |
