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Biotech / Medical : Immucor -- Ignore unavailable to you. Want to Upgrade?

To: technetx who wrote (209)	9/20/1998 8:21:00 PM
From: Thomas Kirwin	Read Replies (1) \| Respond to of 422

Immucor's IBD Statistics Update Technetx, Thanks for the response! Immucor's statistics regarding EPS, Relative Strength, Accumulation Distribution, etc. as published in the NASDAQ Tables of Investor's Business Daily on Monday, September 21, 1998 indicates that Accumulation Distribution is gaining momentum. Take a look.... Category 08/17 09/08 09/21 EPS Rank 79 (Up) 79 79 Relative Strength 64* (Down) 86* (Up) 87* (Up) Accumulation Distribution C* (Down) C B* (Up) Annual Earnings Growth +11% +11% +11% Quarter EPS Change +20% +20% +20% Quarter Sales Change +5% +5% +5% Group Rank N/A N/A N/A # of Funds Own N/A 7 N/A Legend EPS Rank - Measures a company's earnings per share growth in the last 5 years and the stability of that growth. The %change in the last two quarters' earnings vs. same quarters a year earlier is combined and averaged with the 5 year record. Result is compared to all companies in the tables and ranked on a scale of 1 to 99, with 99 the highest. A 90 rank means the company produced earnings in the top 10%. Companies with superior earnings records rank 80 or higher. Relative Price Strength - Measures daily each stock's relative price change over the last 12 months compared to all other stocks in the tables. Results are ranked 1 to 99. Stocks ranking below 70 indicate weaker or more laggard relative performance. Accumulation Distribution - Rating takes into account the percent change in a stock's daily price and its volume. "A" is strongest "E" is weakest. Accumulation-Distribution should be used with other fundamental and technical factors to determine investment decisions. Lets go Immucor! Regards, Tom

To: technetx who wrote (209)	9/22/1998 6:51:00 AM
From: Thomas Kirwin	Respond to of 422

Merger Commentary From Yahoo! BLUD + GBL technetx Sep 20 1998 3:51PM EDT Tom, This take out of GBL by BLUD may make some sense. Do you or anyone know if the SBC (Shanghai Blood Center) partnership with Gamma Bio. ever went through? If this deal did happen then BLUD would have a valuable inroad to the Chinese serology market . I quote from Gamma news release Apr. 1998: " At present, China has no manufacturer dedicated to producing a complete line of blood group typing reagents. While no accurate dollar value can be placed on the cooperative agreement at present, the China market for diagnostic blood banking reagents is large and growing. The market, with approximately 30 million blood donations annually, is two and a half times the size of the U.S. market of 12 million donations." Now that's a country that can use a few ABS units, a couple of ROSYS units and a whole lot of DIAS machines. GO BLUD! nice move... The Road to Shanghai jerboa1 (39/M/Philadelphia, PA) Sep 21 1998 8:31PM EDT Technetx, Shanghai connection clearly outlined as a long term project in Gamma's 10-K SEC filing dated June 29, 1998. Take a look! sec.gov Long-term Project Shanghai Gamma Biologicals Co. Ltd., the company's 50/50 joint venture with the Shanghai Blood Center (SBC), though strictly long-term, is progressing through government requirements much more quickly than expected because of substantial support from SBC officials. In May 1998, we signed the contract and articles of association, two more steps in the approval process. So far, we have: - - registered the Shanghai Gamma name and received a tax identification number; - - submitted two plans for the interior construction for our full floor in the new Shanghai Blood Center; - - developed the equipment list for items available locally and those that must be imported; and - - started recruiting an American-trained business person to become general manager of the joint venture. Additionally, the Shanghai Blood Center sent two people to Houston for a month to study business practices related to our industry and to profit-making ventures in general. We could begin limited shipments of bulk product from the joint venture as early as this fall. To date, we have shipped small amounts of finished reagents for the center's in-house evaluation and samples for its large customers. In all cases, Gamma's reagents were found to be of exceptional quality. Our basis for the joint venture is that China has no manufacturer dedicated to producing a complete line of blood group typing reagents. The country does collect approximately 30 million blood donations annually, making it potentially the world's largest market for diagnostic reagent products.

To: technetx who wrote (209)	9/22/1998 10:18:00 PM
From: Thomas Kirwin	Respond to of 422

Immucor Banter From Gamma Yahoo! Message Board Great job uptick407 Sep 21 1998 4:37PM EDT Guess they finally capitulated after seeing this stock decline and realizing that this product could not compete and this lawsuit was indefensible. Pity they blew their chance to enhance shareholder value and get a higher price when their bargaining power was at a premium, instead grandiosity about ReAct clouded managements' judgement. Hope you enjoy your retirement. Money To Burn OldandAchin Sep 21 1998 5:09PM EDT $25 million for a product that can't compete and an indefensible lawsuit? Evidently, you've missed quite a bit. Better look a little more closely into both. Ed Gallup did. O & A DryFlyFan Sep 22 1998 10:45AM EDT O&A, Nice to see you getting a little snarly lately, even though we initially have different views of this deal. I can be swayed you know. GBL is a floundering reagent company trying to introduce a newer technology (ReAct) to the market. All reports are that it just doesn't work that well. Missed antibodies in evaluations etc. Lawsuits are never a sure bet and Diamed has a far bigger war chest than BLUD. Hoping you might win a lawsuit is a gamble. GBL is selling because they just don't have a future. BLUD has been fixated on GBL for so long that they may have blinkers on. I am probably more in agreement with Uptick at this point because this company was sold and not bought. There is a difference that speaks to the true potential upside. Based on the DBL deal Immucor has not shown any evidence of an ability to integrate companies into one cohesive organization. DBL is probably the low cost manufacturer in the world with long red cell dating, Immucor has taken zero advantage of this with respect to the US. DBL is still likely the low cost maufacturer in the BLUD group (absolutely no pun intended) with GBL in. Immucor is buying sales and manufacturing capability as far as I can see. Both BLUD and GBL have similar sales forces, experienced in selling regents for less money than the contract before. Capital Equipment sales experience is virtually zero. Now you will have twice as many unexperienced capital sales people as before under just as inexperienced capital sales management. Obviously the sales forces will be merged and cut back, hopefully with the addition of a new breed of sales person and senior sales management. My bet is this delays ABS 2000 placements even more. Confusion in the market will be a good thing for Ortho as the sales forces are rationalized. At first glance this is one deal that makes me ask the question why? I don't see significant enhanced shareholder value down the road for the merged companies. What sort of an after tax multiple is BLUD paying for GBL? See Ya, Your Analysis is Right On maygofishing Sep 22 1998 9:09PM EDT DryFlyFan, Ok, you figured it out. And I might add, your analysis is right on the money in my view. Which lets me know you are not an innocent bystander in the BLUD- GBL-Ortho blood bank business. Question is, what is the EBITDA multiple for Gamma? Is BLUD overpaying for the business, or can they pull off the integration strategy of the diagnostic blood reagent field and emerge as THE company vs. Ortho in the blood bank business?