Biohit Has Acquired Vangard Internationa
BIOHIT PLC. STOCK EXCHANGE RELEASE 27.4.2000 at 11:30 a.m. 1 (2)
Biohit Has Acquired Vangard International, Inc. in the U.S.
Biohit Systems, Inc., the U.S. subsidiary of Biohit Plc., acquired the
entire share capital of Vangard International, Inc. on April 25, 2000.
Through the acquisition Biohit aims to clarify and reinforce the sales
and marketing as well as the maintenance and calibration services for
its products in the U.S. The acquisition of Vangard International,
Inc. along with the increase in the sales, marketing and maintenance
personnel is expected to speed up penetration into the U.S. market.
Since 1997 the share of the U.S. of the net sales of the Biohit Group
has increased from 14% to 20%. The objective of Biohit is that in a
few years the share of the U.S. of Group net sales will be 35 - 40%.
Biohit is a high technology company, which specializes in laboratory
equipment and is strongly developing through its diagnostic products
also into a biotechnology company. The main products of Biohit,
established in 1988, have until last year been electronic and
mechanical liquid handling devices and their disposable tips. In the
business area of diagnostics Biohit develops, manufactures and markets
monoclonal antibodies for the detection of different types of cancer.
Moreover, Biohit has developed a test panel for, e.g., screening the
risk of gastric cancer and peptic ulcer. Biohit is currently
developing also liquid handling and measurement instruments for its
patented microplate, which serves as the basis for the diagnostic
tests of the Company.
Compared with other companies, which have recently listed in Finland,
Biohit has been able to protect its proprietary assets and products by
numerous patents. Biohit has a strong international marketing network
and it engages in co-operation with such multinational companies as
bioMérieux, Johnson & Johnson and 3M. Biohit's subsidiary network
covers the most important market areas. In 1999 62% of Group net sales
was generated by the subsidiary network. The primary customers for
Biohit's products are research laboratories, industry and health care.
In addition, the multinational companies mentioned above, as well as
others, complement Biohit's products and technologies with their own
product ranges and diagnostic systems.
Biohit Plc.
Helena Hentola
Information Management
Additional information: Osmo Suovaniemi, President & CEO, tel: +358-9
773 861, direct: +358-9-773 86 250, fax: +358-
9-773 86 205, GSM: 050-556 5605
http://www.biohit.com
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Distribution: Helsinki Exchanges
The Financial Supervisory Authority
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