Ivax Diagnostics Purchased by Entrepreneurs
Teva Pharmaceuticals Industries, Limited’s business Ivax Diagnostics was purchased by two entrepreneurs, Patrice Debregeas and Paul Kennedy. The remaining business shares were acquired for $14 million, which was reported by the South Florida Business Journal.
The two described plans to build on the business of Ivax Diagnostics in both Italy and the United States. The specific plans include growth of the array of test kits offered. Areas of disease intended for expansion include autoimmune and infectious diseases.
Both Debregeas and Kennedy are expected to join the Board of Directors with Ivax at the next meeting. As well, the new executive management leader is expected to be Kennedy.
September 3, 2008 Related topics: Mergers & Acquisitions