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Reference is made to NorDiag ASA's ("NorDiag" or the "Company") stock exchange announcement on 20 April 2012 and the Extraordinary General Meeting on 23 April 2012, regarding the asset sale of the Company's business. The Company has today, together with its subsidiaries NorDiag Inc and NorDiag AB, entered into an agreement with Biotrin International Limited, Biotrin International Limited-Norwegian Branch, DiaSorin AB and DiaSorin Inc for the sale of all of the business of the Company except for activity relating to Magnatrix (instruments and reagents) and the cancer diagnostic activity carried out by Genefec. The transaction includes the management of the Company and the majority of the employees. The agreement was completed simultaneously as it was entered into.

The buying companies are a part of the DiaSorin Group. The DiaSorin Group is a global leader in biotechnology, listed on the Italian stock market (FTSE MIB:DIA), which develops, manufactures and sells worldwide reagent kits for the diagnosis. DiaSorin works in the field of immunodiagnostics with products aimed at the following clinical areas: infectious diseases, hepatitis and retroviruses, cardiac markers, bone metabolism, oncology and endocrinology. From December 2011, DiaSorin has launched its first products for the fully automated determination of gastrointestinal infections in stool samples. Starting from Q4 2012, DiaSorin will also launch its offering in the molecular diagnostic field with 7 infectious disease specialty tests and 5 onco-hematology specialty tests on a dedicated and fully automated platform (LIAISON IAM), providing the customers with an integrated solution for the diagnostic investigation conducted on nucleic acids.

The purchase price under the agreement is EUR 7.6 million. In the transaction, the Company will retain all existing liabilities in respect of the business and the Company will accordingly use the purchase price to cover such liabilities. Currently, and subject to the further development and other factors such as exchange rate, the Company expects that the net proceeds to the Company from the transaction after deduction of the Company's liabilities will be in the amount of approximately NOK 30 - 35 million. There can be given no guarantee that the actual net proceeds will be within this range.

In the transaction, the Company is giving certain customary warranties, but it is agreed between the parties that the general liability for the Company will not exceed 10% of the purchase price and that the warranty period will expire 6 months after completion of the transaction. It is further agreed that 10% of the purchase price is placed in escrow for the duration of the warranty period. The Company may propose to distribute the remaining funds of the Company to its shareholders as far as possible and appropriate following the completion of the transaction. The Company will provide an update in this respect and the relevant funds in due course.

As the business of the Company has been sold, the Company has decided to withdraw the rights issue resolved in the extraordinary general meeting on 16 April 2012. Further, as the CEO of the Company, Mårten Wigstøl, is being transferred together with the business sold, the responsibilities of the CEO will for an interim period be taken on by the vice-chairman of the Board of Directors, Hans Hekland.

Mårten Wigstøl, CEO of NorDiag comments: "There is a good strategic fit between NorDiag's product line and those of DiaSorin. I think this is an attractive transaction for all stakeholders of NorDiag. DiaSorin, has the capability to take NorDiag's technology to the next level of development."

For further information, please contact:
Hans Hekland, Phone: +47 906 28 870

About NorDiag:
NorDiag is a biotechnology company developing, manufacturing and marketing automated solutions (instruments and reagents) for sample preparation of DNA from difficult biological samples. DNA diagnostics give more rapid and precise answers, and are the fastest growing field within diagnostics. The Company's sample preparation solutions are today used in connection with STI, tuberculosis, MRSA, respiratory pathogens and viruses on instruments for large and small laboratories. NorDiag was founded in 2003 and has its headquarters in Oslo, Norway. The Company has offices and laboratories in Stockholm, Sweden and in Atlanta (GA), USA. The group has today 31.6 man-labour years. NorDiag is listed on the Oslo Stock Exchange with ticker NORD.
For further information -

Read the notice in Norwegian here.