Algol acquired CliniLab

Algol has acquired the entire share capital of CliniLab, a Finnish company
specialized in import and marketing of diagnostic hospital equipment and
accessories. CliniLab will operationally join the diagnostic group of Algol´s
Pharmaceutical Division in October 2003. The annual turnover of CliniLab
amounts to EUR 1 million.

The deal will increase Algol´s product range with new high-tech diagnostic
products and strengthen the Pharmaceutical Division´s operations in Finland and
its neighbouring countries. CliniLab, established in 1987, focuses on product
solutions in the fields of clinical neurophysiology, ophthalmology, sleep and
urology. Its market area has extended from Finland to the other Nordic
countries, the Baltic states and Russia.

In connection with the deal, all CliniLab employees will continue working in
the company. Mr. Tapio Jokinen, M.D., founder of CliniLab, will join the expert
panel of Algol´s Pharmaceutical Division.

The expanding health care sector represents one of Algol´s core business lines.
It is also backed up by long traditions: Algol was granted a licence to engage
in the pharmacy supply trade in the 1930´s.

« Back