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Bio-Rad Closes $400M DiaMed Acquisition

NEW YORK (GenomeWeb News) - Bio-Rad said today that it has closed its acquisition of DiaMed Holding, a developer of blood-typing reagents and screening tools, in a transaction worth approximately 477 million Swiss francs ($405.8 million).
Bio-Rad announced its plans to acquire DiaMed in May.
The company said it completed the purchase of around 77.7 percent of DiaMed’s outstanding shares today. DiaMed holds around 9.6 percent of its outstanding shares as treasury shares, and Bio-Rad said it plans to acquire the remaining outstanding shares within the next year.
DiaMed sells a line of reagents and instruments used in blood typing and screening. The Swiss firm has annual sales of around $200 million and around 800 employees worldwide.