21.05.2007
Algol Pharma acquires shareholding in Swedish company
Algol Pharma has purchased a 30 percent shareholding in Swedish companyHistolab AB. Histolab, a specialist in laboratory research equipment, will
strengthen the rapidly expanding operations of Algol Pharmas diagnostics
sector in the Nordic and Baltic markets. The Swedish company has annual net
sales of approximately SEK 37 million and employs 14 personnel.
Histolab is a Swedish family-owned company that was established in 1965 and
operates out of Gothenburg. The company imports and markets equipment and
instruments, reagents and other chemicals for analysing and processing cell and
tissue samples. The company supplements its selection of imported products with
its own Swedish-manufactured product brands, including HistoWax and Pertex.
International manufacturing partners include such big names as Sakura and
Feather. Histolab has co-operated with Algols healthcare sector in the Finnish
market since the 1980s.
Following the transaction Histolab will continue operating under its present
name and with its current personnel. Olof Jenefeldt continues as the companys
Managing Director.
According to Algol Pharmas Managing Director Heikki Haapoja, the new
shareholding will provide the companys diagnostics sector with a complete
range of speciality products, which will naturally strengthen the growth of
operations in the Nordic and Baltic markets. Haapoja adds that the goal for the
near future is to create even more comprehensive services and product
assortments based on this transaction.