DuPont Sells In-Vitro Diagnostics Business to Dade International

Strategic Insights -

DuPont's In-Vitro Diagnostics (IVD) business, a significant and growing supplier of hospital clinical-chemistry systems, will be sold to Dade International Inc. in a deal that combines leading positions in the hemostasis, clinical chemistry, controls, microbiology, and cardiac immunodiagnostics segments of the clinical diagnostics market. The transaction is expected to be completed in the first half of 1996, subject to customary conditions. The combined sales of Dade and DuPont IVD will be approximately $1 billion annually.

Key Takeaways:

  • DuPont's In-Vitro Diagnostics business will be sold to Dade International Inc. in a deal worth approximately $1 billion in combined annual sales.
  • The transaction will create a leading diagnostics company with complementary businesses and significant synergy opportunities.
  • DuPont's IVD business will bring world-class products, research and development, and people to Dade International, enhancing its position in the clinical diagnostics market.
  • The combined company will have strong positions in a broad range of segments of the total clinical diagnostics arena, including hemostasis, clinical chemistry, controls, microbiology, and cardiac immunodiagnostics.
  • DuPont's IVD business had 1994 sales of $326 million and pre-tax income of $21 million before restructuring charges and interest expense.
  • Manufacturing facilities for DuPont IVD are located in the United States, Europe, and Asia, with approximately 1,800 employees worldwide.
  • Dade International had 1994 sales of over $625 million and employs 4,000 people worldwide.

Statistics:

  • Combined annual sales of Dade and DuPont IVD: approximately $1 billion.
  • DuPont IVD 1994 sales: $326 million.
  • DuPont IVD 1994 pre-tax income: $21 million.
  • Number of employees at DuPont IVD: approximately 1,800.
  • Number of employees at Dade International: 4,000.

Sources:

  • "DuPont and Dade International to Merge In-Vitro Diagnostics Businesses." PR Newswire, Dec. 13, 1995.