Roche Holding Selling Hematology Diagnostic Subsidiary to Horiba
Jul. 01, 1996
BASEL (AP) _ Roche Holding AG said Monday it has concluded an agreement to sell its ABX SA blood testing business to Horiba Ltd. of Kyoto, Japan.
Financial terms weren't disclosed and Roche said it will continue to distribute ABX products in selected markets for several years.
Roche said the ABX sale was in line with its strategy for the group's diagnostics activities.
Based in Montpellier, France, ABX was founded in 1983 and has 283 employees.
Horiba makes measuring and analytical instruments, including hematology instruments, in part under licence from ABX. Horiba had sales in its year to March 1996 of $383 million.