Capio owned Nova Medical acquires 50% of Professional Genetics Laboratory
12/21/2000 3:29 AM EST
Capio owned Nova Medical acquires 50% of Professional
Genetics Laboratory
Nova Medical acquired 50% of Professional Genetics Laboratory in Uppsala
from Beijer
& Alma today. Operations consist mainly of pharmaceuticals tests for the
medical industry. The company has an annual net sale of around SEK 5 mil-
lion and 12 employees. Nova Medical is taking over the entire managerial
responsibility.
Professional Genetics Laboratory works with modern molecular biological
methods. Customer base consists largely of tests for the pharmaceuticals
industry, which is constantly demanding modern analysis methods. The com-
pany's operations will be combined with Nova Medical and the latter will
take over corporate management. The agreement provides an opportunity to
acquire the remaining 50% of the share capital in 2003.
"-This is a part of our initiative to build up expertise within future di-
agnostic measures. PGL's molecular biological methods are modern clinical
analyses that we believe offer great future growth potential," says Bengt
Belfrage, President and CEO of Nova Medical AB and Head of Business Area
Laboratories, Capio.
Nova Medical is a European leader within Laboratory Medicine with opera-
tions in Sweden, Norway, Denmark
and Poland. Nova has laboratories in several hospitals and primary health
care centres as well as well-established units for the clinical testing of
pharmaceuticals. Approximately 8.7 million analyses are carried out annu-
ally. At
the present time, Nova has 700 employees, some 40 of which are specialist
doctors and the rest mainly biomedical analysts. Nova Medical is part of
Capio's Business Area Laboratories, which has an annual net sale of around
SEK 500 million.
Gothenburg 21 December 2000
Capio AB (publ)
For more information please contact:
Bengt Belfrage, President & CEO, Nova Medical AB and
Head of Business Area Laboratories, Capio AB +46 31 732 41 01
+46 70 516 32 45
Ulrika Stenson, Vice President Corporate Communications, Capio AB +46 31
77 32 40 04
+46 70 590 07 23