Phadia Acquires Nanjing Wei Kang Le Trade Co., (WKL) in China

UPPSALA, Sweden, Dec. 13 /CNW/ - Phadia today announced that it has entered into an agreement to acquire 100 per cent of the shares in the Chinese marketing company WKL from the parent company MeiRui. The acquisition is made through AllergonAB, a wholly owned subsidiary of Phadia, and is subject to approval by Chinese authorities.

(Logo: http://www.newscom.com/cgi-bin/prnh/20101208/425503)

Nanjing-based WKL has successfully been marketing and distributing Phadia products including ImmunoCAP in China for 10 years. WKL has over 50 employees and more than 100 hospital customers in China's major cities.

The Chinese operations are among the fastest growing areas within Phadia. The prevalence of allergy is increasing and 30 percent of all children are expected to develop some form of allergy in the future.

"The acquisition is strategically important for Phadia. It will further improve diagnosis and management of allergies and provide a strong platform for accelerated growth," says Jean Forcione, Chief Operating Officer, PhadiaAB.

Completion of the transaction is expected by the end of 2010, and is subject to regulatory approval.

About Phadia

PhadiaAB is a global leader in allergy, asthma and autoimmunity diagnostics. Phadia develops, manufactures and markets complete blood test systems to support clinical diagnosis and management. Phadia has marketing companies in more than 20 countries and distributors in about 60 countries.

Phadia is owned by the leading European buyout firm Cinven. For more information please visit http://www.phadia.com

Photo:
http://www.newscom.com/cgi-bin/prnh/20101208/425503

For further information:

Media Contact:
Ulf Bladin
VP Marketing, Corporate Communication, Scientific Affairs
Tel. [phone]
[email protected]