Group Acquires IVAX Diagnostics (IVD) Shares From Teva Pharmaceutical (TEVA) for $14 Million
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IVAX Diagnostics, Inc. (AMEX: IVD) announced that a group controlled by two medical diagnostics and pharmaceutical industry entrepreneurs, Paul Kennedy and Patrice Debregeas, purchased from Teva Pharmaceutical Industries Limited (Nasdaq: TEVA) all of the approximately 72% of the outstanding shares of IVAX Diagnostics owned by it for an aggregate purchase price of $14 million, or $0.70 per share.
Paul Kennedy and Patrice Debregeas are expected to join IVAX Diagnostics' Board of Directors at the next meeting of the Board of Directors. Paul Kennedy is also expected to be appointed to lead IVAX Diagnostics' executive management team.
IVAX Diagnostics, Inc. (IVAX) is the parent corporation of three subsidiaries: Delta Biologicals, S.r.l. (Delta), Diamedix Corporation and ImmunoVision, Inc. [SM]
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