Both the Radiometer and HemoCue companies are leading in their respective fields of point-of-care, or near-patient testing. The transaction is expected to be completed in March 2013, subject to customary closing conditions.
Assuming the acquisition’s completion, Radiometer and HemoCue will continue operations as separate companies and brands. This acquisition will enable both HemoCue and Radiometer to accelerate company growth and innovation in patient testing.
“I am very pleased with the planned acquisition of HemoCue” says Peter Kürstein, President of Radiometer. “The two companies are very similar, both serving vital diagnostic niches in the overall healthcare industry and both leading within their respective areas. Our businesses are fully complementary. Although we will continue running Radiometer and HemoCue as separate companies and brands with unchanged management and channel structure, I expect that we will strengthen our offerings to supply healthcare providers around the globe with an even broader and stronger solution for their point-of-care testing.”
Radiometer offers a broad range of products and solutions to the acute care setting within hospitals. The majority of the product range is used in situations involving critically ill patients, where the very survival of the patient is often dependent on the quick and accurate access to test results by healthcare professionals.
With approximately 2,400 employees globally of which 1,000 are placed in the Copenhagen headquarters, Radiometer has been one of the most successful companies in the Danish med-tech industry and a global leader within its field of business for many years. Represented directly in 23 countries and through distributors in the rest of the world, the solutions offered by Radiometer are found in most hospitals around the globe. In fact, on average 300 tests are done every minute of every day using Radiometer equipment.
The complementary portfolio of HemoCue provides healthcare professionals with a broad range of solutions and products within the areas of Anemia, Diabetes Care, Neonatal/Pediatric Care, Obstetrics and Gynecology, and Hematologic disorders. All instruments are small, easy-to-use devices which allow for testing close to the patient rather than sending off blood samples to the central laboratory in the hospital. A large population of HemoCue instruments is today used in general practitioners’ offices and blood banks.
HemoCue employs globally close to 500 personnel of which 300 are based at the Ängelholm headquarters in Sweden. Since the 1982 introduction of the first system for accurate hemoglobin testing in near-patient settings, the company has become a world leader within its field. The company has a global footprint with 10 affiliates as well as franchise and distribution partners in more than 130 countries.
“Matching the excitement of Peter Kürstein, I’m equally happy about HemoCue being acquired by Radiometer” says Niels Christiansen, President of HemoCue. “Operating in the point-of-care arena comes with a special set of opportunities and challenges, and being owned by a large, well-reputed, global company operating in the same field, will give us focus and support to develop our organization and grow even faster than before.”
Radiometer President, Peter Kürstein concludes: “It’s not enough just to have good products. Therefore both companies are fully committed to provide comprehensive solutions that optimize the workflows in the point of care setting, ensuring that physicians have the correct results fast and can provide the right diagnosis and optimal care for their patients.”
Peter Kürstein, President of Radiometer, will be available today for further comments. Please call +45 3827 3439 to make an appointment.
About HemoCue AB
HemoCue, headquartered in Ängelholm, Sweden, is a leading global company in the field of point-of-care testing.
In 1982, the company introduced the first system making accurate hemoglobin testing possible in near-patient settings. The system consists of a handheld instrument and a disposable microcuvette (micro sample collection system) used with each test.
Since then, HemoCue has sold more than 350,000 systems worldwide. Through 10 wholly owned subsidiaries plus franchises and third-party distributors the company generates revenue in more than 130 countries. HemoCue has approximately 500 employees worldwide.
For more information please visit the website: www.hemocue.com
About Radiometer Medical ApS
Radiometer, headquartered in Copenhagen, Denmark, is a leading provider of technologically advanced acute care solutions that simplify and automate all phases of acute care testing.
The company was founded in 1935 and since 1954 with the invention of the world’s first blood gas analyzer in the fight against childhood polio epidemic it has developed and offered an increased range of products and solutions to the acute care setting within hospitals.
Radiometer today offers solutions for blood gas analysis, transcutaneous monitoring and immunoassay testing for cardiac, coagulation, infection and pregnancy markers. By providing fast and accurate acute diagnostic results, healthcare professionals can make immediate and well-informed decisions that enable them to improve patient care and optimize patient flow in all acute care settings – intensive care units (ICU), emergency departments (ED) and operating rooms (OR).
For more information please visit the website: www.radiometer.com