The original headline mistakenly said Biometra will resume selling its thermocycler business. In fact it will resume selling the instruments.
NEW YORK (GenomeWeb News) — Whatman today said it has settled a lawsuit involving its Biometra subsidiary that will enable it to resume selling thermocyclers.
The company also said it is firing CEO Bill Emhiser immediately for “disappointing trading” last year. He will be replaced by former Innovata CEO Kieran Murphy.
The settlement has taken Biometra out of liquidation, which it had been in since 2003 as a result off the lawsuit. The business will now be “treated as a continuing operation,” Whatman said in a statement.
Gottingen, Germany-based Biometra said it has signed license agreements for its thermocyclers with Beckman Coulter, Applied Biosystems, and Roche, and that Whatman’s board will renew its efforts to “review longer term strategic options for Biometra.”
Whatman expects 2006 revenue to be around £114 million ($147.5 million), which would be a 5-percent increase over 2005, the company said. However, it had been expecting revenue to grow between 6 and 7 percent for the year.
Biometra is expected to generate £6.6 million in revenue and £1.2 million in profits in 2006.