| Back to Press Releases Wednesday July 8, 9:55 am Eastern Time Trinity Biotech Announces Acquisition of Hormone and Drugs of Abuse Range of Diagnostic Tests-- Acquisition to Increase Profitability and Distribution Network --DUBLIN, Ireland--(BW HealthWire)--July 8, 1998-- Trinity Biotech plc (NASDAQ:TRIBY) today announced that it has signed an agreement to purchase the Microzyme product line for hormones and drugs of abuse from Diatech Inc., a Boston-based diagnostics company which is a subsidiary of Healthcare Technologies Inc. (NASDAQ:HCTLF). Trinity will pay $1.7 million in cash and loan notes to acquire the product line and approximately $300,000 for associated inventories. The product line had revenues of $1.6 million for the year ended December 31, 1997. The Microzyme acquisition does not require the issuance of TRIBY shares and is expected to enhance the Company's earnings per share. According to Ronan O'Caoimh, chief executive officer of Trinity, ``The Microzyme acquisition strengthens Trinity's position in the EIA market segment by bringing an excellent range of complementary tests to our product portfolio. We expect increased revenues through cross marketing of the Microzyme products to our existing distribution network and sales of Trinity's products to the Microzyme distributors. The acquisition is also expected to benefit Trinity by providing for immediate access to new distributors in many countries where we are not currently represented. ``Most importantly, the acquisition is non dilutive and earnings accretive,'' O'Caoimh added. ``The products will be manufactured in Trinity's facility in Jamestown, New York and revenues should contribute significantly to our profitability. The full effect of the contribution will not be felt until the transfer of product manufacture has been completed, which is expected by January 1st, 1999.'' The Microzyme product line uses standard microtitre plate enzyme linked immunoassay (EIA) technology and includes EIA tests for hormones such as TSH, T3, T4, and drugs of abuse, including cocaine and opiates. Trinity already manufactures tests using a similar base technology which will facilitate technology transfer from Diatech to Trinity. ``The Microzyme tests are all FDA-approved and have excellent growth potential within our expanding distributor network,'' stated Brendan Farrell, Trinity's president. ``In particular, drugs of abuse testing is a new and expanding area with ever-increasing corporate and social screening. We feel the acquisition is an excellent fit since the Microzyme product line is complementary to our existing EIA range without any product overlap.'' Trinity Biotech develops, manufactures, and markets over 100 diagnostic products for the point-of-care (POC), self testing (OTC), and clinical laboratory segments of the diagnostic market. Trinity sells worldwide in over 75 countries through 130 international distributors and strategic partners including Warner Lambert, Carter Wallace, and SmithKline Beecham. Forward-looking statements in this release are made pursuant to the ``safe harbor'' provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including but not limited to, the results of research and development efforts, the effect of regulation by the United States Food and Drug Administration and other agencies, the impact of competitive products, product development commercialization and technological difficulties, and other risks detailed in the Company's periodic reports filed with the Securities and Exchange Commission. Contact: Trinity Biotech plc OTC Communications
Jonathan O'Connell Robert M. Joyce
800-603-8076 888-32-TRIBY (87429) ext. 11
www.trinitybiotech.com www.otcfn.com/triby
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