Disposal of International Brand Licensing AG

RNS Number : 0967A

EKF Diagnostics Holdings PLC

27 March 2012

 



EKF Diagnostics Holdings plc

("EKF" or the "Company")

Disposal of International Brand Licensing AG

EKF Diagnostics Holdings plc (AIM: EKF), the growing in-vitro diagnostics company, announces that it has sold its Swiss subsidiary, International Brand Licensing AG ("IBL AG") for a cash consideration of £50,000, payable over a 2 year period.

IBL AG was a legacy subsidiary which, following the completion of the sale of the rights of the Admiral sports brand by management in 2010, contained the Muscle Athletic sports brand.

Julian Baines, EKF's CEO commented:

"We are very pleased to have completed this disposal as it concludes the divestment from the sports licensing sector, allowing management to fully focus on further building our diagnostics business"

Enquiries:

EKF Diagnostics Holdings plc	Tel: [phone]
David Evans, Executive Chairman	Mob: [phone]
Julian Baines, CEO	Mob: [phone]
Canaccord Genuity Limited	Tel: [phone]
Jamie Adams / Mark Dickenson
Walbrook PR Limited	Tel: [phone]
Paul McManus	Mob: [phone] or [e-mail]
Fiona Henson	Mob: [phone] or [e-mail]

About EKF Diagnostics Holdings plc

EKF Diagnostics Holdings plc was formed in July 2010 following the acquisition of EKF-diagnostic GmbH for €14.32m and refocused its strategy to one of building a substantial point of care diagnostics business. As part of this strategy, the Group has integrated three further acquisitions, Quotient Diagnostics Limited (acquired in October 2010 for a maximum of £5.41m), Argutus Medical Limited (acquired in December 2010 for £2.18m) and Stanbio Laboratory L.P. (acquired in June 2011 for a maximum of US$25.5m).

The Company, with its head office in Cardiff and operations in London, Germany, Poland, Russia, Ireland and the US, is a leading diagnostics business, focused on the development, production and distribution of chemical reagents and analysers for the testing of Glucose, Lactate, Haemoglobin, Haematocrit and HbA1c.

In May 2011 EKF entered into a distribution agreement with Alere Inc ("Alere"), a global diagnostics company, under which Alere was appointed the exclusive distributor of EKF's CLIA waived Hemo_Control device and cuvettes in the US, Canada and United Kingdom. The device is distributed in the US under the name HemoPoint H2. 

For more information please visit the website: www.ekfdiagnostics.co.uk

 

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