Clinical product manufacturer Trinity Biotech has completed the acquisition of the Biopool Hemostasis division of Xtrana for $6.25 million.
Trinity said it had started the process of transferring the manufacturing operations from the two Biopool locations in California and Sweden to existing Trinity manufacturing plants in Ireland and the US.
As a result, Trinity will incur a one-off exceptional charge of $2.9 million for 2001. The full financial benefits of the acquisition will only flow through in 2003, when the restructuring programme has been fully implemented.
Biopool develops, manufactures and markets a comprehensive range of test kits which assess and diagnose blood disorders. The market opportunity for these products is estimated at $650 million worldwide.
Trinity Biotech also announced today the appointment of Peter Coyne as a Non-Executive Director. Mr Coyne is a Director of AIB Corporate Finance.
