| Back to Press Releases Trinity Biotech Announces Acquisition of Centocor's U.K. Infectious Disease Business Dublin, Ireland, June 18, 1997. Trinity Biotech (NASDAQ:TRIBY) today announced that it has signed an agreement to purchase the U.K. infectious disease business of Centocor, Inc. (NASDAQ:CNTO), a U.S. biotechnology company. Trinity is paying $5.5 million for the business in the form of cash and loan notes. The completion of the transaction is dependent on customary consents and approvals and is expected within the next two weeks. For the year ended December 31, 1996 Centocors infectious disease business had revenues of $3.2 million. Centocor U.K. develops, manufactures and markets infectious disease diagnostic tests in micro titre EIA (enzyme immuno assay) plate format. Their product line includes tests for Toxoplasmosis, Rubella, Cytomegalovirus (CMV), Herpes Simplex Virus 2, Syphilis and a newly developed test for Chagas. All the tests are FDA cleared, except Chagas, and in the case of Syphilis and CMV, these tests have been cleared for use in blood banks by the U.S. Food and Drug Administration. The assets of the business are primarily located in Centocors state-of-the-art 17,000 sq. ft. FDA and ISO 9001 approved manufacturing facility in Guildford, U.K. The acquisition has a number of major advantages for Trinity. Centocors product line is complementary to Trinitys existing EIA range, and will enable Trinity to access new and significant market segments. In addition to its excellent product range, Centocor has recently developed a test for Chagas which has significant market potential. Chagas is a disease with a high incidence in Latin American countries and an increasing incidence in southern states of the U.S. It is a mandatory blood test in certain countries. Centocor has rights to certain patented antigens and antibodies which will enable Trinity to develop accurate rapid tests for these diseases. Centocor U.K. markets its products through a network of excellent national distributors in Europe, South America and the United States. These distributors will significantly enhance Trinitys existing distributor network. Commenting on the announcement, Ronan OCaoimh, Chief Executive, stated, The acquisition of Centocor U.K. greatly strengthens Trinitys position within the EIA market segment. It brings an excellent range of complementary tests, including the leading Syphilis test and an EIA Chagas test. The acquisition will also significantly enhance Trinitys marketing position within Europe with the addition of leading distributors in several European countries. Certain statements contained in this release are forward-looking. Although Trinity Biotech plc believes that its expectations are based on reasonable assumptions within the bounds of its knowledge of its business and operations, there can be no assurance that actual results will not differ materially from its expectations. For factors that may cause actual results to differ materially from expectations and underlying assumptions, see reports by Trinity Biotech plc filed with the Securities and Exchange Commission. Trinity Biotech develops, manufactures and markets rapid tests for the clinical laboratory, point-of-care and over-the-counter markets. For further information, please contact: Jonathan OConnell, Trinity Biotech 800 603 8076 or Robert Long, LongView Partners 212 463 9733 |