FRANCE - Idia et al. provide Elitech with EUR 9m

Paris-based Financere Elitech is a group of companies which manufacture and distribute in vitro diagnostic equipment covering clinical chemistry, microbiology, immunology and electrophoresis.

The financing round will be used to partially fund the EUR 18.2m purchase of all US-based Nanogen Inc's assets from the Delaware bankruptcy courts for Elitech's designee DxCon. Nanogen is a developer of molecular and rapid diagnostic products. The acquisition adds EUR 25-30m to Financere Elitech's revenues bringing its expected sales in 2010 to EUR 95m. The deal follows Elitech's acquisitions of US-based Wescor and Dutch company Vital Scientific in 2007.

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• Topics
• Expansion
• France