matt (hbergeronx) wrote,
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hbergeronx

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well, it's official: we've been sold.

InnaPhase to Purchase Laboratory Automation Operations from Beckman Coulter

FULLERTON, Calif. & PHILADELPHIA--(BUSINESS WIRE)--May 13, 2003--Beckman Coulter, Inc. (NYSE:BEC) and InnaPhase Corporation today announced they have signed an agreement for InnaPhase to acquire the domestic assets of Beckman Coulter's Laboratory Automation Operation (LAO). Subject to standard closing conditions, the acquisition is expected to close in June 2003. Terms of the agreement were not disclosed. Additionally, both parties have entered into negotiations for InnaPhase to acquire the foreign assets of LAO.
Beckman Coulter's Laboratory Automation Operation designs, sells and services laboratory information management systems (LIMS) primarily for pharmaceutical quality control environments. LAO's product portfolio is a complement to InnaPhase's existing suite of LIMS solutions.

About Beckman Coulter, Inc.

Beckman Coulter, Inc. is a leading manufacturer of instrument systems, chemistries and supplies that simplify and automate laboratory processes. At the forefront of medical discovery, in clinical research and through the often life-saving process of clinical diagnostics, Beckman Coulter's 200,000 installed systems provide essential biomedical intelligence to enhance health care around the world. The company, based in Fullerton, Calif., reported 2002 annual sales of $2.06 billion with 62 percent of this amount generated by recurring revenue from supplies, test kits and services. For more information, visit www.beckmancoulter.com.

About InnaPhase Corporation

InnaPhase Corporation is the first and only company that provides purpose built Laboratory Information Management Systems (LIMS) for the pharmaceutical industry. Eighteen of the world's top 20 pharmaceutical organizations depend upon one or more of InnaPhase's software solutions in order to handle their mission critical data through the discovery, preclinical, clinical and manufacturing phases of pharmaceutical development and production. InnaPhase provides two unique 21 CFR Part 11 compliant solution suites that include; the Pharma LIMS(TM) Suite, a series of purpose built LIMS applications and the Pharma AIMS(TM) Suite, a complete solution for the management of all PK/PD data through the preclinical and clinical phases. InnaPhase has locations in the United States and the United Kingdom as well as distribution centers in India and Japan. For more information, see InnaPhase on the World Wide Web at www.innaphase.com.

FULLERTON, Calif. (Dow Jones)--Innaphase Corp. agreed to acquire the U.S. assets of Beckman Coulter Inc.'s laboratory automation operation.
Although terms of the agreement weren't disclosed, the sale price was "under $ 10 million," a Beckman Coulter spokeswoman said.

The acquisition is expected to close in June, subject to standard closing conditions, Beckman Coulter, a maker of instrument systems, said in a press release Monday.

Additionally, InnaPhase is in talks to acquire the foreign assets of the laboratory automation operation.

Beckman's laboratory automation operation designs, sells and services laboratory information management systems primarily for pharmaceutical quality control environments. The acquired portfolio will complement InnaPhase's existing suite of laboratory information management systems.

The combined domestic and foreign laboratory operations had $15 million to $20 million in sales annually and 50 employees, the Beckman spokeswoman said. In 2002, Beckman earned $2.45 a share excluding a charge, on sales of $2.06 billion.

New York Stock Exchange (News - Websites)-listed shares of Beckman Coulter were trading recently at $40.60, down 31 cents, or 0.8%, on composite volume of 134,500 shares. Average daily volume is 416,604 shares.

-Jenny Park; Dow Jones Newswires; 201-938-5400
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