Immunodiagnostic Systems Hldgs : Acquisition of Dia.Metra S.r.l.

10 September 2014

Immunodiagnostic Systems Holdings PLC ("IDS" or "the Group")

Acquisition of Dia.Metra S.r.l. ("Diametra")

Immunodiagnostic Systems Holdings PLC today announces that it has acquired Diametra, an Italian company specialised in the development and commercialisation of manual immunoenzymatic assays.

Diametra is based in Spello, Umbria and employs approximately 25 staff.  In the year-ended 31 December 2013, Diametra generated revenues of €3.3m and an EBIT of €0.3m.

The acquisition is in line with the Group's strategy of building its presence as a leading solution provider for speciality testing.  In particular, the acquisition augments the Group's endocrinology pipeline.  For the past nine months, IDS and Diametra have been collaborating on the conversion of one of Diametra's manual assays onto the fully automated IDS-iSYS instrument.  Following the acquisition, it is IDS's intention to convert a number of Diametra's manual assays in the area of steroid hormones onto the IDS-iSYS automated instrument.  In addition, the acquisition of Diametra provides IDS with additional development and manufacturing capabilities.

Patrik Dahlen, CEO of IDS, commented: "We are delighted to have secured the acquisition of Diametra, which will assist in the acceleration of our strategic plan outlined earlier this year.  In particular, Diametra will provide immediate access to endocrinology manual assays in the area of steroid hormones that can be converted to automated assays for our iSYS instrument.  We continue to pursue complementary acquisitions that will help us grow our specialist endocrinology menu and build operational excellence."

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About Immunodiagnostic Systems Holdings PLC

The Group's vision is to be a leading solution provider to the clinical laboratory diagnostic market. IDS's strategy is focused on developing, internally and through partnership, its automated assay menu for its proprietary automated immunoassay analyser, the IDS-iSYS system. Internally the Group is focused on developing an endocrinology excellence menu and externally IDS works with partners to develop assay panels in complementary indication fields. The Group sells its products primarily in the clinical laboratory market across a range of customers from reference laboratories to physician office laboratories. IDS has field sales forces in certain European countries, including France and Germany, the United States and Brazil and works with distributors in other markets including China, Italy and Spain.