HERCULES, CA--(MARKET WIRE)--Sep 7, 2006 -- Bio-Rad Laboratories, Inc. (AMEX:BIO - News) and (AMEX:BIO-B - News), a multinational manufacturer and distributor of life science research products and clinical diagnostics, announced today that it has completed the purchase of the medical diagnostics business of Provalis plc (London:PRO.L - News) for approximately $3 million in cash. Based in the United Kingdom, this business develops, manufactures, and sells point of care diagnostic products for chronic disease management of diabetes and osteoporosis.
"Point of care testing continues to be of growing importance in the diagnostics area," said Norman Schwartz, Bio-Rad President and CEO. "While this is a relatively small acquisition, it expands our market breadth in the very critical area of diabetes monitoring."
Bio-Rad Laboratories, Inc. (AMEX:BIO - News) and (AMEX:BIO-B - News) has remained at the center of scientific discovery for more than 50 years manufacturing and distributing a broad range of products for the life science research and clinical diagnostics markets. The company is renowned worldwide among hospitals, universities, major research institutions as well as biotechnology and pharmaceutical companies for its commitment to quality and customer service. Founded in 1952, Bio-Rad is headquartered in Hercules, California, and serves more than 75,000 research and industry customers worldwide through its global network of operations. The company employs over 5,000 people globally and had revenues of $1.1 billion in 2005. For more information, visit www.bio-rad.com.
Various statements made within this press release may constitute "forward-looking statements" for the purposes of the Securities and Exchange Commission's "safe harbor" provisions under the Private Securities Litigation Reform Act of 1995 and Rule 3b-6 under the Securities Exchange Act of 1934. The forward-looking statements contained herein involve risks and uncertainties that could cause results to differ materially from the Company's expectation.
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Corporate Communications Manager
Bio-Rad Laboratories, Inc.
Source: Bio-Rad Laboratories