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Biotage AB Acquires Separtis Holding AG for 1.4M Euros (13M SEK) and Completes EU Distribution Consolidation

11 Oct 2005 - Biotage has acquired Separtis Holding AG, the Swiss, German and Austrian distributor for many Biotage products, formerly the Argonaut Technologies consumable product range. Under the terms of the agreement Biotage will retain all current Separtis employees, assume the leased facilities in Grenzach-Wyhlen, and own all assets of Separtis, which is based in Grellingen, Switzerland with operating legal entities within Switzerland and Germany. The turnover of the company in 2004 was 1.6M (14.6M SEK) Euros and all revenues were comprised of Biotage-produced products. It is expected the acquisition should result in an annual revenue increase of 7.5M SEK. "It has always been within our plans to move from distributors to direct sales and service within our key European markets. This acquisition, in combination with other recent distributor changes in the EU, allows us to now service our critical markets directly while raising our operating margins," stated Jeff Bork, CEO of Biotage AB. Dr. Reinhard Kupferschmidt, the current senior sales manager and technical director, will become the head of all Biotage business activities in Central and Eastern Europe. The existing Separtis business activities in Genzach-Wyhlen will continue as well. "This substantially completes a crucial part of the Argonaut integration. For Biotage, it delivers critical skills and strong customer relationships in a vital EU region while providing the management talent necessary for our long term success," according to Dave Patteson, President of Biotage's Discovery Chemistry Business.