BIOHIT PLANS TO INCORPORATE ITS DIAGNOSTICS BUSINESS
BIOHIT OYJ STOCK EXCHANGE RELEASE 26 JANUARY 2007
BIOHIT PLANS TO INCORPORATE ITS DIAGNOSTICS BUSINESS
At a meeting held on Friday 26 January 2007, Biohit Oyjs Board of
Directors decided to investigate the possibility of hiving off the
companys diagnostics business into a separate limited company.
The purpose is also to obtain its own equity in order to boost
international marketing and distribution and thereby rapidly and
effectively leverage the significant potential of existing and
forthcoming products.
The decision forms part of the companys new strategy, which aims
to clarify the differences and synergies between its business
areas and derive the full benefit from their strengths, as well as
to boost the Groups business as a whole and improve earnings.
Biohit Oyj currently operates in two business segments: the liquid
handling business and the diagnostics business. The companys
liquid handling business develops, manufactures and markets
laboratory equipment and supplies for use in the pharmaceutical,
food and other industries, as well as for use in research
institutions, universities and hospitals, and to complement the
diagnostic and analysis systems of many other companies, such as
3M, bioMérieux and three Johnson&Johnson Group companies.
Biohits diagnostics business primarily develops, manufactures and
markets products and analysis systems for diagnosing, screening
for and preventing gastrointestinal diseases. The product range
includes Biohits patented GastroPanel examination a test that
from a blood sample diagnoses diseases of the gastric mucosa and
their associated risks (see, for example, www.gastropanel.net,
www.biohit.com / Diagnostics).
Biohits business segments differ in, for example, their market
situations and customer bases, distribution channels and
marketing, and production processes. When the diagnostics business
is hived off into a separate company, both businesses will be
better able to focus on developing their own strengths.
When established, the new company will focus primarily on
developing, manufacturing and marketing diagnostics tests and
analyses systems for diagnosing, screening for and preventing
diseases of the digestive tract. It will also develop, manufacture
and market products for eliminating carcinogenic substances (see
www.biohit.com / Investors / Stock Exchange Releases: 5 January
2007).
Biohit Oyj
Board of Directors
For additional information, contact:
Osmo Suovaniemi, M.D., Ph.D., Professor
President & CEO
Tel: +358-9-773 861
Mobile: +358-40-745 5605
Email: osmo.suovaniemi@biohit.com
Distribution:
Helsinki Exchanges
Financial Supervisory Authority
Press
http://www.biohit.com