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DiaSorin S.p.A.. (7/25/17). "Press Release: DiaSorin to Acquire ELISA Immunodiagnostic Business Portfolio and Associated Assets from Siemens Healthineers". Saluggia.

Organisations Organisation DiaSorin S.p.A. (FTSE Italia Mid Cap: DIA)
  Group DiaSorin (Group)
  Organisation 2 Siemens Healthcare GmbH
  Group Siemens (Group)
Products Product ELISA assay (diagnostics) (enzyme linked immunosorbent assay)
  Product 2 Liaison analyzer
Index term Index term DiaSorin–Siemens: ELISA immunoassays, 201707– acquisition up to €47.5m of Siemens ELISA Dx portfolio/assets without employees + mftg capacity
Persons Person Rosa, Carlo (DiaSorin 201607 CEO)
  Person 2 Fava, Riccardo (DiaSorin 201607 IR + Corporate Communications Director)
     


DiaSorin S.p.A. (FTSE Italia Mid Cap: DIA) and Siemens Healthcare GmbH announce that they have signed a binding agreement pursuant to which DiaSorin will acquire from Siemens Healthcare GmbH and affiliated companies (“Siemens Healthineers”) its micro-titre based ELISA immunodiagnostic business portfolio and related tangible and intangible assets.

The transaction will be carried out by DiaSorin S.p.A. and certain of its affiliates to purchase the Siemens Healthineers ELISA immunodiagnostic business portfolio and the associated tangible and intangible assets, including mainly the customers’ sales and distribution contracts, the installed base of instruments and the relevant intellectual property.

The acquisition will not include the transfer of employees nor manufacturing facility and capability.

The ELISA immunodiagnostic business portfolio and the relevant assets from Siemens Healthineers will be acquired on a debt free cash free basis.

Siemens Healthineers will continue to manufacture and provide exclusively to DiaSorin its ELISA immunodiagnostic reagent kits for a period of up to 3 years enabling a continuous supply to customers with the current Siemens Healthineers ELISA immunodiagnostic products.

Siemens Healthineers ELISA immunodiagnostic products are marketed today in hospitals, private laboratories and blood banks, generating revenues1 in the fiscal year ended as of September 30, 2016 of around € 47 million. Through DiaSorin Group’s internal available resources, DiaSorin will pay to Siemens Healthineers a total consideration of up to € 47.5 million.

Completion of this acquisition will be subject only to merger control approval and is expected in the second half of the calendar year 2017.


Rationale for the acquisition

The envisaged transaction is coherent with DiaSorin strategy to convert clients using ELISA products to its CLIA platforms and products solution, leveraging on the completeness of its CLIA menu and the features of its LIAISON platforms.

Siemens Healthineers ELISA immunodiagnostic business portfolio will allow DiaSorin to access a significant clients base, mostly in Europe, granting a unique opportunity to further expand its global commercial presence, creating new business opportunities to boost the promotion and marketing of the DiaSorin’s CLIA products menu.

Commenting on the acquisition, Carlo Rosa, CEO of DiaSorin Group, said “We are very excited to acquire the Siemens Healthineers ELISA business. We think this deal would perfectly fit with our long-term strategy aimed at expanding our customer base leveraging on our extensive CLIA specialities menu and LIAISON Platforms”.


1 Unaudited data


Additional Information

Additional information will be provided during the DiaSorin H1 2017 Results Conference Call that will be held on August 3rd at 3.00 p.m. CET, 2.00 p.m. GMT, 9.00 a.m. US Eastern time.

A transcript of the conference call will be available as of August 5th in the Investor Relations section at www.diasorin.com


About DiaSorin

Headquartered in Italy and listed in the FTSE Italia Mid Cap Index, DiaSorin is a global leader in the In Vitro Diagnostics (IVD) field.

For over 40 years the Company has been developing, producing and marketing reagent kits for IVD worldwide. Through constant investments in research and development, and using its own distinctive expertise in the field of immunodiagnostics to deliver a high level of innovation, DiaSorin offers today the broadest range of specialty tests available in the immunodiagnostics market and new tests in the molecular diagnostics markets, which identify DiaSorin Group as the IVD “diagnostics specialist”.

For more information, please visit www.diasorin.com


For additional information, please contact:

Riccardo Fava
Investor Relations & Corporate Communication Senior Director
Tel: +39.0161.487988
riccardo.fava@diasorin.it

Ines Di Terlizzi
Investor Relator
Tel: +39.0161.487567
ines.diterlizzi@diasorin.it

   
Record changed: 2017-08-02

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