Anteo to acquire Global Diagnostics Company - DIAsource
Anteo to acquire Global Diagnostics Company - DIAsource
31 October, 2014
ANTEO DIAGNOSTICS TO ACQUIRE ESTABLISHED GLOBAL DIAGNOSTICS COMPANY DIASOURCE IMMUNOASSAYS SA
For Immediate Release: August 26, 2015
Anteo Diagnostics to acquire 100% of the equity in global specialty diagnostics company, DIAsource ImmunoAssays SA (Belgium), in line with previously announced acquisitive growth strategy
DIAsource ImmunoAssays generated revenue of €11.9m (A$18.0m) in 2014, and €7.2m
(A$10.9m) in first half of 2015 (25% growth) with quarterly EBITDA margins of 20%
Purchase price of €15.4m (A$23.3m), with a two year earn out to vendors, subject to achievement of financial business targets
Transformational acquisition to transition Anteo towards a cash flow positive business, with an established global distribution platform, manufacturing capabilities and a significantly broadened product range
Deal completion subject to financing and regulatory approvals
New merged business entity of 100 personnel
26 August 2015 - The Board of Directors of Anteo Diagnostics (ASX: ADO) ( Anteo ) is pleased to announce that it will acquire DIAsource ImmunoAssays, SA ( DIAsource ), an established global specialty diagnostics company based in Belgium, pursuant to a Share Purchase Agreement executed yesterday ( Agreement ).
DIAsource is a vertically-integrated specialty diagnostics company that develops, manufactures, markets and distributes clinical diagnostics products in the fields of endocrinology, especially bone metabolism, fertility, cardiovascular and oncology.
DIAsource is a truly international company that services customers in 75 countries worldwide; and sells products both directly and through a global network of 90 main distributors and 40 OEM partners.
The Company generated revenue of €11.9m (A$18.0m) in 2014 and €7.2m (A$10.9m) in the first half of 2015. This represents revenue growth of 25% with an average EBITDA margin of 20.6% this year. DIAsource recently achieved its fifth consecutive revenue growth quarter and fifth consecutive best quarter ever in the company’s history, thanks to growth in its Vitamin D portfolio and its established line of specialty RIA and ELISA assays, two different forms of immunoassays.
DIAsource has a highly flexible supply chain with a fully IVD certified production facility to manufacture its complete catalogue of antibodies, ELISA and RIA assays. The Company’s headquarters, comprising 4,500 square meters located in Louvain-La-Neuve near Brussels, combines offices and laboratories with a fully integrated manufacturing and storage facility.
Key terms of the Agreement include:
Initial payment of €15.4m (A$23.3m) to be paid in cash and / or shares at completion of the acquisition.
An earn-out component, up to a maximum of €7.3m (A$11.1m), subject to the achievement of business revenue and margin targets, with a minimum 20% in shares.
Completion subject to financing, regulatory approvals and other conditions which are typical for a transaction of this nature.
A transformative acquisition
The acquisition of DIAsource is an important step in the staged global expansion strategy for Anteo. This first acquisition is expected to complete in November 2015 and will deliver a range of significant
benefits to Anteo’s shareholders, including:
Strong revenue, revenue growth and EBITDA margin - with strong fundamentals, including a
20% EBITDA margin over the last four quarters, the DIAsource deal transitions Anteo towards a cash flow positive organisation with significant upside earnings potential.
An experienced and globally-networked team - the DIAsource team brings extensive industrial
diagnostic experience that dovetails with Anteo’s capabilities and “know-how”, as well as an established business network of research and commercial partners worldwide.
A broad suite of existing products - DIAsource manufactures and distributes a complete
catalogue of ELISA and RIA products for clinical diagnostics via established distribution channels worldwide; an offering which includes antibodies and laboratory automation instrumentation. DIAsource’s products are well suited to mid-tier and specialist laboratories.
A strategic location - Belgium is centrally located in Europe; situated between Germany, France, the UK and the Netherlands. DIAsource’s head office and operations are based in the middle of
one of the most prosperous and densely populated region in Europe, with good access to core
European markets and Anteo’s customers.
Additional differentiators - DIAsource’s existing platform provides significant opportunities for Anteo’s Mix&Go technology; delivering tailored customer offerings and accelerating sales of the Mix&Go technology and product range.
The transaction complements the foundational work conducted by Anteo during FY15 to develop a robust platform for business growth. With extended reach into 75 countries, the possibilities for Anteo to leverage the Mix&Go product range and capabilities throughout DIAsource’s supply chain are significant. Anteo will also gain access to a large manufacturing capability, which will provide a platform to manufacture products at scale. This previously would have required Anteo to undertake significant further investment.
Anteo’s CEO, Dr. Geoff Cumming, stated: “We are delighted to announce the execution of a Share Purchase Agreement today, following the completion of a robust due diligence process. The Board believes that the Anteo-DIAsource combination will be transformational for Anteo and deliver a strong set of benefits to both companies.”
“Not only will the combined group transition Anteo towards a cash flow positive position; it also delivers a truly global presence through which both DIAsource’s and Anteo’s products can be sold. The transaction also brings a world-class (ISO, US FDA and CE IVD certified) manufacturing facility to Anteo and our shareholders.”
“With a strong balance sheet and growth in both revenue and earnings, as well as an established organisation with experienced diagnostics management, DIAsource is a sound investment. Revenue
improvements that can be achieved through DIAsource’s product families and inclusion of Mix&Go in the product mix make the acquisition even more attractive for Anteo,” added Dr Cumming.
DIAsource Managing Director, Dr. Jozef Vangenechten, added: “This is an exciting opportunity for DIAsource to become part of a global stock exchange listed parent company, and we’re happy and honoured to be the first operating subsidiary company chosen by Anteo to become part of its new growth strategy. With decades of experience in immunoassay development and manufacturing, we believe in Anteo’s Mix & Go technology and look forward to the opportunity of showing and harvesting its benefits in our industrial immunoassay manufacturing. We will continue to work closely with Anteo over the coming months to bring the transaction to a close.”
For further information, see our website ( www.anteodx.com) or contact the persons outlined below.
About Anteo Diagnostics
Anteo Diagnostics Limited (ASX: ADO) is a global technology company and parent company of the Australian biotechnology company Anteo Technologies, that develops and commercialises products for the life sciences, in-vitro diagnostics, point of care, medical devices and bioseparations markets.
The Anteo group owns a patented nanoglue technology, which is used by healthcare customers as an addition to their existing tests, to consistently enable laboratory test results that can either be delivered faster, cheaper or with greater specificity and / or sensitivity than incumbent tests. This nanoglue technology, called Mix&Go for healthcare markets, is starting to gain traction within the Company’s target markets due to its ability to revolutionise the way scientists and assay developers work.
For more information, please visit www.anteodx.com
About DIAsource ImmunoAssays
DIAsource ImmunoAssays SA is a global specialty diagnostics company that develops, manufactures, markets and distributes clinical diagnostic products in the field of endocrinology, with a leading portfolio of Vitamin D products and comprehensive catalogue of ELISA and RIA products offered to customers worldwide. DIAsource is a vertically integrated company, from R&D and antibody production through to customer service solutions that include lab automation instrumentation.
DIAsource is present in 75 countries and sells products both directly and through a global network of
90 main distributors and 40 OEM partners.
उन्मेष पाटील , कळंब
येथील नगर परिषदेतील काँग्रेसचे नगरसेवक बाबूशेठ बागरेचा यांनी आज राष्ट्रवादी काँग्रेसमध्ये प्रवेश केल्याने सत्ताधारी मंडळीतील नाराजीला तोंड फुटले आहे. बागरेचा यांच्यापाठोपाठ उपनगराध्यक्ष मुश्ताक कुरेशी यांनीही पद सोडण्याची तयारी चालविल्याने राजकीय वर्तुळात खळबळ उडाली आहे.
काँग्रेस (आय) चे नगरसेवक बागरेचा यांनी राष्ट्रवादीमध्ये प्रवेश केल्याने मार्केट कमिटीच्या निवडणुकीच्या तोंडावर काँग्रेसला हा जबर झटका मानला जातो आहे. बागरेचा हे बाजार समितीमध्ये मागील निवडणुकीत अपक्ष म्हणून निवडून आले होते. त्यांना मानणारा मोठा वर्ग व्यापारी मतदारसंघात असल्याने राष्ट्रवादीसाठी हा प्लस पॉर्इंट मानला जातो आहे. दरम्यान, नगर परिषदेमधील सत्ताधारी मंडळीतील नाराजी या प्रकरणाने समोर आली आहे. यापूर्वीच काँगे्रसच्या नगरसेविका छायाताई आष्टेकर यांनी न.प. च्या काभारावर नाराजी व्यक्त केली होती. काही निर्णयाला त्यांनी विरोधही दर्शविला होता. तेंव्हापासूनच सत्ताधारी मंडळीमध्ये आलबेल नसल्याचे चित्र समोर आले होते. बागरेचा यांच्या राष्ट्रवादी प्रवेशाने या नाराजीवर शिक्कामोर्तब केले आहे. आगामी काळात न.प. मधील आणखी एक नाराज गट राष्ट्रवादीच्या संपर्कात असल्याची चर्चा आहे. (वार्ताहर)
न.प. मधील कोणत्याच निर्णयात आपल्याला विश्वासात घेतले नाही. सर्वसाधारण बैठकीमध्ये मी सुचविलेल्या विषयाला दुर्लक्षित करण्यात येत होते. न.प. च्या कारभारातही पारदर्शकता राहिली नव्हती. त्यामुळे नागरिकांच्या सोई-सुविधा सत्ताधारी पक्षात असूनही देवू शकलो नाही. या सर्व बाबींमुळे नगरसेवक म्हणून मानसिक कोंडमारा होत असल्यानेच राष्ट्रवादीमध्ये प्रवेश केला, असे स्पष्टीकरण नगरसेवक बाबूशेठ बागरेचा म्हणाले.
न.प. मध्ये काम करताना सध्या मोठ्या अडचणींना तोंड द्यावे लागत आहे. त्यामुळे पद असतानाही कामे करता येते नाहीत. यासाठी उपनगराध्यक्षपदाचा राजीनामा देण्याबाबत तयारी केली असून, येत्या दोन-तीन दिवसात निर्णय घेणार आहे. पक्षश्रेष्ठींनी काही शब्द दिले होते तेही पाळले नसल्याने नाराज असल्याचे उपनगराध्यक्ष मुश्ताक कुरेशी यांनी सांगितले.
Zacks.com featured expert Kevin Matras highlights: Chegg, Casella Waste Systems, Monster Worldwide, EarthLink Holdings and EMCORE
For Immediate Release
Chicago, IL – August 19, 2015 - Stocks in this week’s article include: Chegg, Inc. (CHGG), Casella Waste Systems (CWST), Monster Worldwide (MWW ), EarthLink Holdings Corp. (ELNK) and EMCORE Corp. (EMKR). Kevin Matras shows why stocks with new analyst coverage are stocks you want to have.
Screen of the Week written by Kevin Matras of Zacks Investment Research:
Explosive Stocks Under $10
This screen is a bit of a departure from my normal stock screens.
Usually I require my screens to have a minimum price of $10 per share.
But I do at times scan for stocks under $10. And that’s one of the screens I’m running for myself right now.
One dollar is a common threshold when screening for stocks. A lot of investors actively avoid penny stocks due to the speculative nature, the often wide bid/ask spreads, and the excessive volatility that is all too common in stocks under $1.00.
But some, of course, work out spectacularly well. And that’s probably what keeps people interested in them.
Seeing a stock make a 100% return or 200% return or more from a base of 50 cents, for example, seems easier than investing in a $50 stock or $100 stock and seeing that double or triple.
Five dollars is another common minimum when screening for stocks since many institutional investors won’t even consider a stock if it’s trading under $5. And since institutional investors are usually the ones that can move a stock; having stocks that are open to them is usually a bonus.
And quite frankly, lots of cheap stocks are cheap for a reason, i.e., that’s all they’re worth.
But being over $5 does put them into a different category of consideration. Maybe not the best category, but a step up from stocks less than a dollar.
Stocks Under $10
My minimum has typically been $10. With over 10,000 stocks out there, this minimum quickly lets me cull down several thousand stocks with a click of a button.
That doesn’t mean there aren’t any good stocks below that price point, because there are.
And I can recall several sub-$10 stocks in the past that worked out exceptionally well. Maybe it’s because I use them sparingly. Or maybe it’s because I’m ultra picky in selecting them.
Either way, there can be a place for cheaper stocks in your portfolio sometimes.
And that’s what we’re looking at today.
• Price less than or equal to $10
• Average Dollar Volume greater than or equal to $1,000,000
(Price x volume shows you how much money is trading in and out of the stock on a daily basis.)
• Weekly Volume greater than Previous Week’s Volume (any two out of three weeks)
(Want to see increasing volume to show greater investor interest and demand.)
• Zacks Rank less than or equal to 3
(No Sells or Strong Sells.)
• Average Broker Rating less than or equal to 3.5
(Average Broker Rating of a Hold or Better.)
• # of Analysts in Rating greater than or equal to 2
(Minimum of at least two analysts covering the stock.)
• % Change F1 Earnings Estimate Revisions – 12 Weeks greater than or equal to 0
(Preferably upward earnings estimate revisions, but definitely no downward revisions.)
Here are 5 stocks that made it through this week’s screen:
(CHGG) Chegg, Inc.
(CWST) Casella Waste Systems
(MWW) Monster Worldwide
(ELNK) EarthLink Holdings Corp.
(EMKR) EMCORE Corp.
I think each one of these picks has big potential. And the entire list is worth a thorough analysis.
I would not suggest filling up an entire portfolio of stocks under $10 though. But adding a careful selection of some of the best cheap stock names could add some excess returns to your bottom line, not to mention a little excitement to your stock picking process as well.
Get the rest of the stocks on this list and start screening for the best stocks under $10 for yourself. And don’t forget to backtest your strategy so you’ll know how successful it’s been before you put any of your money at risk. You can do it.
Sign up for a free two week trial to the Research Wizard today.
Sign up now for your free trial today and start picking better stocks immediately. And with the backtesting feature, you can test your ideas to see how you can improve your trading in both up markets and down markets. Don’t wait for the market to get better before you decide to do better. Start learning how to be a better trader today: https://at.zacks.com/?id=111
Disclosure: Officers, directors and/or employees of Zacks Investment Research may own or have sold short securities and/or hold long and/or short positions in options that are mentioned in this material. An affiliated investment advisory firm may own or have sold short securities and/or hold long and/or short positions in options that are mentioned in this material.
About Screen of the Week
Zacks.com created the first and best screening system on the web earning the distinction as the “#1 site for screening stocks” by Money Magazine. But powerful screening tools is just the start. That is why Zacks created the Screen of the Week to highlight profitable stock picking strategies that investors can actively use. Each week, Zacks Profit from the Pros free email newsletter shares a new screening strategy. Learn more about it here https://at.zacks.com/?id=112
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