Trinity Biotech acquires Adaltis US for $3.5m
14/04/2004 - 07:04:02Trinity Biotech, the Co Wicklow-based maker of medical test kits, has bought the assets of Adaltis US for $3.5m (€2.93m) in cash.
Adaltis US, a subsidiary of Adaltis, distributes diagnostic instruments for the infectious disease market in the US.
As part of the deal, the Nasdaq listed Trinity has won exclusive distribution rights to Adaltis's open-end microplate analytical instrumentation in the US.
Trinity recently reported revenues up 26% to $65.7m (€55.06m) in 2003.
The company said it made an operating profit for the year to the end of December 2003 of $9.7m (€8.1m), compared to $6.6m (€5.5m) the previous year.
Trinity Biotech was formed in 1992 and has manufacturing facilities in Bray, New York and California.
