The BioMerieux coagulation product line comprises a comprehensive portfolio of diagnostic tests and a complete range of automated instruments.
Trinity will pay $40 million on closing, together with a maximum of $6.4 million after 12 months and a maximum of a further $5.5 million after 24 months. Of these combined deferred payments, an amount of $5.5 million is contingent on the achievement of certain milestones for the product line during the remainder of 2006. The transaction will be funded from a combination of cash and bank debt and is expected to close in late June.
The worldwide coagulation testing market is valued at $600 million and is growing at 5% per annum. Every hospital needs to undertake coagulation testing resulting in more than 25,000 clinical laboratories performing coagulation testing globally. Following the merger of Trinity’s existing Biopool and Amax coagulation product lines with the BioMerieux product line, it is estimated that Trinity’s share of the worldwide coagulation market will be 13%.
“Given this combination and the scale achieved through the increased customer base, we are confident of increasing our market share aggressively in the future,” said Ronan O’Caoimh, CEO of Trinity.