Eurobio Scientific and Vivo Medical Group enter into exclusive negotiations for the acquisition of two companies in the United Kingdom (addendum)

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Similarly, Pathway provides quality control reagents that it designs and manufactures, to enable laboratories to monitor and compare their performance as required by good laboratory practices. Eurobio-Scientific is currently marketing specific controls manufactured by Pathway in France.

With the acquisition of Personal, Eurobio Scientific is also strengthening its offer of self-tests, and is entering the retail market with an offer available for consumers through a web platform.

In 2018, the two companies, wholly owned by Vivo Medical Group, posted sales of around £ 1.7 million (€ 1.9 million based on 2018 average exchange rate). Their profitability makes this operation accretive for Eurobio-Scientific.

The acquisition of both companies is expected to be paid in cash and an exchange of shares. The latter would be made by issuing new shares for an amount of £ 900,000, and based on the weighted average price of the Eurobio Scientific shares calculated over the last 20 trading days preceding the annual general shareholders’ meeting to be held on June 27, 2019. Resolutions relating to this issuance of new shares will be submitted for shareholders’ approval, and will appear in the meeting notice to be published in the BALO on Wednesday, June 12, 2019.

 

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Globe Newswire: 07:00 GMT Wednesday 12th June 2019

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