Tecan sells sample management business to US firm NEXUS Biosystems
Tecan is focusing its growth strategy on its Life Sciences core business
The Tecan Group and NEXUS Biosystems, Inc., based in Poway, have signed an agreement concerning the sale of REMP AG, a wholly-owned subsidiary of Tecan, as well as other related assets. Under this agreement, NEXUS will acquire all activities of Tecan's Sample Management business segment. In parallel with this move, Tecan and NEXUS plan to collaborate on various additional product groups. With this transaction Tecan increases the focus on its Life Sciences core business, which it will expand further in line with its growth strategy.
REMP AG, located in Oberdiessbach (Switzerland), employed a total of 120 employees worldwide at the end of 2009. Segment sales from the activities performed by Tecan's Sample Management business segment reached CHF 35.7 million in 2009, with a small positive operating profit of CHF 0.1 million. The selling price for REMP AG and the related activities amounts to a total of CHF 12 million. Up until the end of 2012, Tecan will also receive additional payments from NEXUS Biosystems based on sales generated together with REMP AG of between a minimum of USD 4.4 million and a maximum of USD 7.7 million. The transaction should be closed within the next two months. With the closing of the transaction, the Head of Business Unit Sample Management, Domingo Messerli, will resign from the Executive Board of the Tecan Group in this function.
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