Mergers and Acquisitions

Post-acquisition status reported by pharmaceutical testing firm

Published in Health and Medicine Week, January 5th, 2004

BioReliance Corporation (BREL) announced that following its recent acquisition of Q-One Biotech Group, Ltd., the company expects to achieve annualized cost synergies in the combination of approximately $4.5 to $5.5 million, before the effect of income taxes, by the end of the first quarter of 2004.

In addition to these cost structure improvements, BioReliance management expects the acquisition to create significant opportunities for revenue growth.

BioReliance's acquisition of Q-One Biotech was announced in August 2003 and the transaction was completed on September 23, 2003. For the 9 months ended September 30, 2003, on a combined basis, BioReliance...

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Source: Health and Medicine Week (2004-01-05)

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