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LAB International Inc.

Integrated drug development company acquires Scantox

Published in Healthcare Finance, Tax and Law Weekly, March 9th, 2005

LAB International Inc. (LAB) has acquired all shares of Scantox, Biologisk Laboratorium A/S (Denmark) for a total cash consideration of 28 million Danish Kroner (Dk) or approximately CDN$6.1 million.

Approximately 90% of the purchase price will be paid on closing, with the remaining portion payable by March 31, 2006, subject to post-closing adjustments.

"We are extremely pleased to welcome Scantox's organization and staff to the LAB group of companies. Scantox's total customer satisfaction philosophy, reflected through reliable, flexible and punctual service, matches perfectly with LAB's core business values," said Leigh Berryman, president of LAB...

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