M&A

Trinity Biotech sells life sciences supply business in $30m deal

Nasdaq-listed company said life sciences supply is no longer core to its long-term strategy

South Korean company MiCo Group took a near 30 per cent stake in Trinity Biotech last year as part of a $45 million investment

Trinity Biotech, the Irish-founded medical diagnostics company, has agreed a deal to sell its life sciences supply business to Biosynth for $30 million (€27.3 million).

The Nasdaq-listed firm said the deal for its Fitzgerald Industries businesses, is expected to close by the end of the month.

Bray-headquartered Trinity develops, manufactures and markets diagnostic systems for the point-of-care and clinical laboratory segments of the diagnostic market. Its products are sold in more than 110 countries, and ...