BioSource Acquires In-Vitro Product Line

BioSource International Inc. has signed an agreement with Nordion International Inc. to acquire the assets and assume selected liabilities related to the in-vitro business of Belgium-based Medgenix Diagnostics.

The agreement calls for BioSource, a Camarillo company, to pay Nordion $6.56 million and pay royalties on certain Medgenix products for five years. The acquisition is expected to be final within 30 days, concurrent with the completion of BioSource’s secondary offering of common stock.

Medgenix is involved in the development and manufacture of a series of in-vitro medical products. While there is some overlap with BioSource’s current product line, company officials said the acquisition will expand and broaden BioSource’s product lines and provide a European manufacturing capability and direct sales force.

For the calendar year ending Dec. 31, 1995, the in-vitro business of Medgenix accounted for approximately $11.3 million in revenue.

BioSource supplies immunological reagents and test kits used in biomedical research. The company offers more than 800 products.

Nordion International, headquartered in Kanata, Ontario, Canada, is a subsidiary of MDS Health Group Ltd. It is the world’s largest producer of radioisotopes used for diagnosis and therapy and of radiation-based equipment for sterilization of medical products.