14 Nov 2008 07:01
Immunodiagnostic Systems Holdings plc
Immunodiagnostic Systems Holdings plc ("IDS") and Escalon Medical Corporation ("EMC"), the NASDAQ quoted healthcare Company, draw closer to conclusion of the acquisition of IDS' Biocode Hycel haematology division.
EMC and IDS today announce their collaboration on a plan to transfer IDS' Biocode Hycel haematology division to EMC or its subsidiary Drew Scientific Inc.
Discussions are at an advanced stage for the 100% divestment of this division by IDS.
The deal will be finalised assuming successful consultation with the competent employee representative bodies, as required by French Law, and after the subsequent finalisation and signing of the definitive agreement. This is expected to take place before the end of November at which point a further announcement will be made giving full details of the deal terms.
For further information:
Immunodiagnostic Systems Holdings plc Tel: 0191 519 0660
Roger Duggan, Managing Director
Paul Hailes, Finance Director
Oriel Securities Limited (Nominated Adviser and Broker) Tel: 020 7710 7600
Andrew Edwards
Gareth Price
James Nevin
Parkgreen Communications Limited Tel: 020 7933 8787
Paul McManus Mob: 07980 541 893
paul.mcmanus@parkgreenmedia.com