ALAPIS SA announces that in order to realize its business plan, with the application of a part of the funds raised from the recently completed share capital increase, via rights issue, it signed the final agreement for the purchase of a 100% in BioChem Diagnostics SA. The acquisition amounted to euro 22.5 mil.
BioChem Diagnostics SA, founded in 1991, is one of the largest companies in the diagnostics market in Greece. Following strong operational performance, the company currently holds a leading position in the domestic healthcare product market. The company imports, distributes and provides after-sales support to a wide range of diagnostic, reactors and consumable products in the sectors of Biochemistry, Immunology, Haematology and Bed-Side Diagnosis, while it also designs, distributes and supports Laboratory IT Systems (L.I.S.). Most recently, the company entered the anti-cancer pharmaceutical sector.
The company's current management team, which has contributed to its successful development to date, will remain with the business in order to continue assisting in future growth. The company employs a total of 70 highly experienced employees.
For the financial year 2006, BioChem Diagnostics SA reported Revenues of euro 23.9 mil. EBITDA of euro 6.5 mil.and Pre-tax profit of euro 4.8 mil.
According to article 289 par. 4c of the ATHEX Regulation, the related report of the Company's Board of Directors and the related valuation of the acquired company from an audit firm, will be posted on the company's website address www.alapis.eu and to the website address of the ATHENS EXCHANGE www.ase.gr .