Anteo Diagnostics Limited (ASX:ADO)
has completed the acquisition of DIAsource Immunoassays SA.
The purchase is in accordance with the vendor funding agreement for €7.7 million announced on 6 January 2016, payable over a four-year term.
Anteo CEO Dr Geoff Cumming said the transaction transforms Anteo and is a critical step in implementing the company’s corporate strategy.
Dr Cumming added DIAsource provides the cornerstone to grow the company’s diagnostics business.
Anteo Diagnostics recorded a net loss of $4.22 million at 30 June 2015.