Biohit has implemented Euroclone acquisition, new company will start as Italian subsidiary
Biohit Oyj 18.04.2013 at 4:30 P.M. local time
Biohit Oyj announces the closing of Euroclone acquisition today. The new company, Biohit Italy S.r.l., will begin operations as a Biohit subsidiary focusing on marketing and distribution of company’s diagnostic products in Italy. New subsidiary has distribution network and market knowledge of Italian market.
The acquisition was closed and the share issue was subscribed in accordance with the exchange rate of the day prior to the closing (17 April 2013) thus resulting as the value of the acquisition 1 126 800,00 €. The new shares will be registered with Euroclear system approximately between 29 April 2013 and 6 May 2013. The restrictions related to the transfer of the shares have been published earlier.
New organization structure and management
Biohit has from April 18, 2013 onwards three subsidiaries: UK, China and Italy. The new subsidiary will initially have 2 employees, which increases the number of the Group's staff to 37. Franco Aiolfi has been appointed to subsidiary CEO.
Additional information:
CEO Semi Korpela, Biohit Oyj
Tel. +358 9 773 861
semi.korpela@biohit.fi
www.biohithealthcare.com
Biohit in brief
Biohit Oyj is a Finnish biotechnology company operating globally that was established in 1988. Biohit's mission is "Innovating for Health". The purpose of the company is to take social responsibility and produce innovation, new technologies and analysis systems for use in medicine, research institutions and industry, helping to promote research and diagnostics and to improve the quality of life of people by means of preventing disease, human suffering and financial loss. We are committed to social responsibility and it is our duty to spread knowledge about the Group 1 human carcinogen, acetaldehyde, and innovate and develop the marketing and availability of our products and services. Biohit is headquartered in Helsinki and its subsidiaries are located in China and the United Kingdom. Since 1999, Biohit's Series B shares (BIOBV) have been listed in the NASDAQ OMX Helsinki Oy Small cap/Healthcare sector.