Biosynex to acquire all outstanding shares of Chembio at $0.45/share representing a premium of 27% over the closing price of Chembio stock on Jan 2023 in an all-cash transaction valued at $17.2M. The transaction is expected to close in Q1’23
The acquisition combines two industry leaders’ expertise to accelerate and enhance product development & helps to broaden the Biosynex footprint globally. Chembio focuses on infectious disease assays covering sexually transmitted infections, respiratory viruses and fever, and tropical disease
Additionally, Chembio’s differentiated tests enhance the Biosynex rapid diagnostic portfolio & consolidation of operations offering potential cost savings, synergies, and value creation
Ref: Globe NewsWire | Image: Biosynex
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