BIPL NEWS from the Buyers side.:
(Applies to: BLUD BIPL BLUD)
IMMUCOR, INC. SIGNS DEFINITIVE AGREEMENT TO ACQUIRE
Biopool's Blood Bank Division
NORCROSS, Ga., April 6 /PRNewswire/ -- Immucor, Inc. (Nasdaq: BLUD), a
leading provider of blood bank reagents and related products, today
announced the signing of a definitive agreement for the purchase of
certain assets of the BCA blood bank division of Biopool International
Inc. (Nasdaq: BIPL). The acquired product lines currently generate
approximately $5.5 million in annual revenues, and are expected to be
immediately accretive to Immucor's earnings per share. The purchase
price is $3.0 million for net working capital plus $1.5 million for the
product lines. The transaction is expected to close on May 1, 1999.
Under the terms of the agreement, Biopool will continue to operate the
BCA facility on behalf of Immucor during a transition period.
Commenting on this transaction Edward L. Gallup, President of Immucor,
stated, "As evidenced by our recent acquisitions of Dominion
Biologicals Ltd., Gamma Biologicals and Immunochim/Medichim, our
French/Belgian distributor, we are implementing our strategy of market
consolidation and the establishment of a direct presence in the more
important global markets."
Gallup further stated, "The purchase of BCA continues our consolidation
of the U. S. market as Immucor will now stand as one of only two major
players with a complete line of blood bank reagents. Immucor is the
market leader in automated instruments and reagents. We believe we are
the number one supplier for our field in the North American market and
expect this position to strengthen in the future."
Immucor manufactures and sells a complete line of reagents and systems
used by hospitals, reference laboratories and donor centers to detect
and identify certain properties of the cell and serum components of
blood prior to transfusion. Founded in 1982, Immucor markets a
complete family of automated instrumentation for all of our market
segments.
For more information on Immucor, please visit the company's website at
www.immucor.com .
This press release may contain forward-looking statements as that term
is defined in the Private Securities Reform Act of 1995, including,
without limitation, statements concerning the Company's expectations,
beliefs, intentions or strategies regarding the future. All
forward-looking statements included in this document are based on
information available to the Company on the date hereof, and the
Company assumes no obligation to update any such forward-looking
statements. There is no certainty that the acquired product lines will
continue to generate revenues at the same level in the future. Further
risks are detailed in the Company's filings with the Securities and
Exchange Commission, including those set forth in the Company's most
recent Form 10-K and Quarterly Reports on Form 10-Q.
SOURCE Immucor, Inc.
-0- 04/06/99 /CONTACT: Edward L. Gallup of
Immucor, Inc., 770-441-2051/
/Web site: immucor.com / (BLUD BIPL)
CO: Immucor, Inc.; Biopool International Inc. ST: Georgia IN: MTC
HEA SU: TNM
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