Barcelona, February 4th, 2008
Werfen Life Group, S.A.,has reached a definitive agreement to acquire all of the outstanding shares of INOVA Diagnostics, Inc., a privately held medical diagnostics firm headquartered in San Diego, California. INOVA is recognized as a leader in the development and manufacturing of ‘in vitro’ diagnostic tests for autoimmune diseases.
Recent scientific discoveries are finding autoimmune characteristics in many of the more common diseases such as arthritis, liver disease, atherosclerosis, celiac disease and diabetes. Some of these diseases can affect up to one percent or more of the general population. INOVA develops and produces first class quality new tests based on these discoveries.
INOVA’s research pipeline and scientific expertise is complementary to Werfen’s ‘in vitro’ test and instrumentation product line. Werfen is excited by the growth prospects for this segment of the medical diagnostic industry and ready to assist INOVA in realizing their growth, expecting to keep INOVA’s research, manufacturing and administrative operations in San Diego and expand them as necessary in that area.
Werfen was founded in 1966 in Barcelona. The company manufactures and distributes ‘in vitro’ medical diagnostic solutions, medical devices, and scientific instruments worldwide. Werfen employs more than 3500 people, with 2007 revenues exceeding US$1 billion.
(Visit www.werfengroup.com for more information)
INOVA was established in San Diego in 1987. The company develops and manufactures ‘in vitro’ medical diagnostic tests for autoimmune disease that are used in medical labs, hospitals and universities around the world. The company employs 160 people at its San Diego facility.
(Visit www.inovadx.com for more information)
Werfen Life Group S.A.U.
Viladomat, 162
08015 Barcelona, Spain
Tel. +34 93 4010101
Fax. +34 93 4513745