IRIS International, Inc. (IRIS) to Buy Its German and UK Business From Werfen Group for Book Value, as Prelude to Initiating Program for Expanding Direct International Sales; Management in Place
9/23/2009 10:10:15 AM
CHATSWORTH, Calif., Sept. 22, 2009 (GLOBE NEWSWIRE) -- IRIS International, Inc. (Nasdaq:IRIS), a leading manufacturer of automated in-vitro diagnostics systems and consumables for use in hospitals and commercial laboratories worldwide, announced today that it has signed a letter of intent to acquire from its European distributor, The Werfen Group, assets relating to its current distribution of IRIS' products in the UK and Germany. The assets to be purchased consist primarily of customer leases for installed IRIS instruments and service contracts, valued at inventory book value. The parties presently are negotiating a definitive acquisition agreement, and IRIS expects to consummate the acquisition at the end of December 2009.
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