TBG Diagnostics Ltd
(ASX:TDL) will purchase 51% of the equity in RBC Biosciences, a DNA extraction equipment maker in Taiwan.
The company says the addition of RBC to its business will double its sales revenue in the global diagnostic markets, forecast to be worth $81 billion by 2022.
The company will pay $4.7 million to acquire RBC, and may fund part of it by raising equity capital.
This deal is expected to complete in August, this year.
TBG reported a net loss of $1.35 million at 31 December 2015.
