Ireland-based Trinity Biotech said it has acquired locally based IMMCO Diagnostics for nearly $33 million.
IMMCO is a diagnostic company that specializes in the development, manufacture and sale of autoimmune test kits. It also has specialized reference laboratory services in diagnostic immunology, pathology and immunogenetics, which are marketed to U.S.-based reference laboratories and hospitals.
Trinity said IMMCO generates annual revenues of $12.5 million, with $8.5 million from product revenues and $4 million from laboratory revenues.
Trinity said it intends to retain IMMCO’s existing management team, led by president and chief executive officer William Maggio. The company has 90 employees.