Trinity Biotech pays $12m for US diabetes testing firm Primus:
This article was originally published in Clinica
Executive Summary
Trinity Biotech, of Dublin, Ireland, has entered the diabetes testing market through the $12m acquisition of Primus, a Kansas City, Missouri-based firm that makes glycohaemoglobin testing instruments and reagents. Primus reported sales of $7.9m in 2004, and holds an estimated 35% share of the US variant A1c testing market. It expects US FDA approval for a new point-of-care rapid gel HbA1c product early next year. Nasdaq-listed Trinity will pay up to an additional $4.6m to Primus shareholders depending on continuing business growth in 2005.