Eurobio Scientific and Vivo Medical Group enter into exclusive negotiations for the acquisition of two companies in the United Kingdom

Eurobio Scientific and Vivo Medical Group enter into exclusive negotiations for
the acquisition of two companies in the United Kingdom
                   

Paris, June 11, 2019 – 5:45 pm

Eurobio Scientific enters into exclusive negotiations with Vivo Medical Group for the acquisition of Pathway Diagnostics Ltd ("Pathway") and Personal Diagnostics Ltd ("Personal"), two British companies specializing respectively in the development and distribution of in vitro diagnostic tests in the United Kingdom and Ireland, and self-tests for consumers and professionals via an e-commerce platform. This acquisition should be made with a partial payment in cash, supplemented by an exchange of shares.

A strong reputation in specialty tests for medical diagnosis and research
Founded in 1999, Pathway is based in Dorking, Surrey. It offers a range of clinical in-vitro diagnostic products and instrumentation to hospital medical laboratories, particularly in the areas of hematology and immunology, as well as research and industrial laboratories in the UK and Ireland.

Similarly, Pathway provides quality control reagents that it designs and manufactures, to enable laboratories to monitor and compare their performance as required by good laboratory practices. Eurobio-Scientific is currently marketing specific controls manufactured by Pathway in France.

Proprietary self-tests
Personal, also based in Dorking, Surrey, is a young company still in the early stages of development that specializes in self-testing for consumers and healthcare professionals. The company markets 3 proprietary tests that it manufactures: AnaemiaScreen for iron-deficiency anaemia, ThyroScreen for the detection of hypothyroidism, and UlcerScreen for stomach ulcers. The company also distributes other self-tests. Personal sales are currently mainly to consumers, and exclusively via an e-commerce website.

An acquisition in line with the Group's European development strategy
This acquisition fits perfectly with Eurobio Scientific's European development strategy. With an already long-standing commercial relationship with Pathway, it also enables the immediate implementation of significant synergies for the marketing of Eurobio Scientific's own products (EBX range, Cornea media) and distribution products (RCPQA), as well as Pathway’s own products (PathTROL controls and PKA kits).

With the acquisition of Personal, Eurobio Scientific is also strengthening its offer of self-tests, and is entering the retail market with an offer available for consumers through a web platform.

The acquisition of both companies is expected to be paid in cash and an exchange of shares. The latter would be made by issuing new shares for an amount of £ 900,000, and based on the weighted average price of the Eurobio Scientific shares calculated over the last 20 trading days preceding the annual general shareholders’ meeting to be held on June 27, 2019. Resolutions relating to this issuance of new shares will be submitted for shareholders’ approval, and will appear in the meeting notice to be published in the BALO on Wednesday, June 12, 2019.

Next Financial Meeting
General meeting: June 27, 2019

Attachment

• 100611_PR_Eurobio Scientific_Pathway_EN