Biosynex Entered into a Definitive Merger Agreement to Acquire Chembio Diagnostics for ~$17.2M
Shots:
- Biosynex to acquire all outstanding shares of Chembio at $0.45/share representing a premium of 27% over the closing price of Chembio stock on Jan 2023 in an all-cash transaction valued at $17.2M. The transaction is expected to close in Q1'23
- The acquisition combines two industry leaders’ expertise to accelerate and enhance product development & helps to broaden the Biosynex footprint globally. Chembio focuses on infectious disease assays covering sexually transmitted infections, respiratory viruses and fever, and tropical disease
- Additionally, Chembio’s differentiated tests enhance the Biosynex rapid diagnostic portfolio & consolidation of operations offering potential cost savings, synergies, and value creation
Ref: Globe NewsWire | Image: Biosynex
Related News:- Takeda and Chembio Diagnostics Collaborate to Develop Point-of-Care Diagnostic Test
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