Irish Trinity Biotech Acquires Adaltis US, Inc

14-Apr-2004

Dublin, Ireland. Trinity Biotech plc announced that it has completed the acquisition of Adaltis US, Inc.

Trinity Biotech has acquired the assets of Adaltis US, Inc for US$3.5 million in cash. Adaltis US, Inc ("Adaltis US") is the US distribution arm for Adaltis, Inc. As part of the transaction, Trinity has obtained exclusive distribution rights to Adaltis' open-end microplate analytical instrumentation in the US and non-exclusive distribution rights in the rest of the world, except China.

Adaltis US is engaged in the distribution of diagnostic instruments and reagents for the infectious disease market in the US. The company was loss making during 2003. The acquisition gives Trinity access to the existing installed base of instruments in the US, will be earnings neutral in 2004 and earnings positive in 2005.

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Ronan O'Caoimh, Trinity Biotech CEO, commented "The acquisition of Adaltis US is a strategic move for Trinity and is designed to enhance our infectious disease product offering. Crucially the acquisition gives Trinity access to the existing installed base of instruments in the US and provides an opportunity for Trinity to place its own reagents on this installed base of instruments. The acquisition is a logical step in our strategy of being a significant player in the infectious disease market both in the US and worldwide. We believe the Adaltis range of instruments including the NexgenFour, Labotech and P-Lab provide us with access to the best microtitre plate instrument offering available on the market.

In our two major business units of infectious disease and haemostasis we can now offer a complete system solution to the clinical laboratory, comprising reagents, automated instruments and technical service. This, combined with our expanded sales force will enable Trinity to significantly grow its business in the US in the coming quarters."

"We are very pleased with the sale of our US distribution arm and the conclusion of this new long term world wide OEM distribution partnership with Trinity Biotech" indicated Pierre Larochelle, President and Chief Executive Officer of Adaltis Inc. "With Adaltis now focusing on developing a significant presence in the Asian market, we felt it was important for us to partner up with a reputable organization which would insure thorough marketing and service of our open-end microplate analyzer instrumentation and further enhance our market leadership position."

Trinity Biotech develops, acquires manufactures and markets over 500 diagnostic products for the point-of-care and clinical laboratory segments of the diagnostic market. The broad line of test kits are used to detect infectious diseases, sexually transmitted diseases, blood coagulation disorders, and autoimmune diseases. Trinity Biotech sells worldwide in over 80 countries through its own salesforce and a network of international distributors and strategic partners. For further information please see the company's website: www.trinitybiotech.com.

Forward-looking statements in this release are made pursuant to the "safe harbor" provision of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties including, but not limited to, the results of research and development efforts, the effect of regulation by the United States Food and Drug Administration and other agencies, the impact of competitive products, product development commercialisation and technological difficulties, and other risks detailed in the Company's periodic reports filed with the Securities and Exchange Commission.

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