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NorDiag and the other shareholders in Olerup International AB, LinkMed and SSP Primers, has agreed in a change of structure of the Company. LinkMed and SSP Primers will acquire NorDiag's shares in Olerup Inc, the US-subsidiary,  to an agreed price of USD 1. The transaction also includes a conversion of SEK 3 million out of a SEK 5 million loan from Olerup International to Olerup Inc into share capital.

The change means that NorDiag will not take part in an extended marketing effort in the US-market, but focus on the markets in Europe and rest of the world. The distribution agreement for the desk top instrument "Arrow" will remain the same and cover the total HLA Typing market, including US.

The consequence of the change is that NorDiag's share of the HLA Typing revenues as well as operational costs will be lower. Based on 2009-figures, the operating income is expected to be 15 per cent lower for the HLA Typing segment. However, the profit effect is not expected to be significant.

"Our core business is Infectious diseases and we are now entering the Life Science market with the Arrow, and we need to focus our US resources on these opportunities. As such we have decided to limit our commitment in the US part of Olerup International. We still expect to sell many Arrows in the US HLA market, and being located in the same facilities, we will have a strong collaboration. This is a matter of priority, and it is important for us to invest the majority of our resources and working capital in our own high margin business.", says Mårten Wigstøl, CEO of NorDiag.
CEO Mårten Wigstøl  -   Phone: +47 9116577

Read the notice in Norwegian here.