Orexo acquires Noster System to strengthen its position in stomach-ulcer diagnostics

02-May-2006

Orexo´s subsidiary Kibion AB has acquired the majority of the shares in Noster System AB. Kibion AB has also offered to purchase the remaining shares in Noster System. The acquisition is conditional upon Kibion AB acquiring more than 90 percent of all shares in Noster System. Noster System, with its product "Helioprobe System" - a breath test used for the diagnosis of the stomach-ulcer bacterium Helicobacter pylori - had a turnover of MSEK 11.4 in 2005. The acquisition is expected to generate positive impact on the results for the current fiscal year.

"The acquisition of Noster Sytem is a strategically important step in the process of expanding the operations of Kibion AB internationally, strengthening Kibion´s product portfolio as well as broadening our operations geographically. The market for the diagnosis of the stomach-ulcer bacterium Helicobacter pylori is huge and the potential substantial. Sales of Kibion´s product Diabact® UBT amounted to MSEK 5.1 in 2005 after rising sharply compared to the year before, as did sales of Helioprobe System. We ancipitate continued strong growth in the next few years", said Zsolt Lavotha, President and CEO of Orexo AB.

"Today, Noster System is established in the Middle East, Asia and Eastern Europe, while Kibion´s main markets are in England and Northern Europe. The possibilities to expand and develop existing distribution and marketing channels have been strengthened for both products through the acquisition. Apart from continued growth in our established markets, we also expect strong growth in the Balkan countries, as well as in Russia, where the Helicobacter bacterium is widely spread", said Lena Söderström, Managing Director of Kibion AB.

The purchase sum for all shares in Noster System amounts to MSEK 10.5. A further sum of a maximum of MSEK 7.2 may be paid, under the condition that Kibion´s growth reaches certain sales targets in the next few years.

https://www.bionity.com/en/news/54353/orexo-acquires-noster-system-to-strengthen-its-position-in-stomach-ulcer-diagnostics.html