Trinity Biotech Acquires HIV Business From Selfcare, Inc.

DUBLIN, Ireland--(BW HealthWire)--Oct. 1, 1998--Trinity Biotech plc (NASDAQ:TRIBY) today announced that it has acquired the infectious disease diagnostics business of Cambridge Diagnostics Ireland Ltd., a subsidiary of Selfcare, Inc. of Waltham, MA (AMEX:SLF) for a consideration of 555,731 shares of Selfcare, Inc. common stock owned by Trinity Biotech, and $280,000 in cash.

The product range, which had 1997 revenues of $3.2 million, comprises three tests for the diagnosis of HIV antibodies. Capillus HIV 1/2 and RTD HIV 1/2 are rapid tests that detect HIV antibodies in whole blood, serum or plasma, and are ideally suited for use in physicians' offices, emergency rooms, clinics, and other point-of-care situations. The third product (Recombigen) is a microtitre plate assay, which is used for diagnosis of HIV in clinical and reference laboratories, and is also used in blood banks for screening of blood donations.

As part of this transaction, Trinity has acquired the rights to certain recombinant antigens which are used in other retroviral diagnostic products approved by the FDA and which will enhance the performance characteristics of Trinity's Uni-Gold(tm) HIV.

"This acquisition is an excellent fit for Trinity, as it broadens our product offering in a high growth market segment where we already have a substantial presence through our rapid HIV products SeroCard, SalivaCard, and Uni-Gold," stated Ronan O'Caoimh, CEO of Trinity Biotech. "Trinity is now the market leader world-wide in rapid HIV testing."

"Furthermore, as Capillus and Recombigen are the preferred HIV test of the World Health Organisation, Trinity will be able to access significant HIV markets, such as India and Central and East Africa, where we previously had minimal presence. The transfer of production to our new facility in Ireland will yield significant manufacturing efficiencies resulting in improved margins," O'Caoimh continued. "We are particularly pleased that this acquisition, which will be earning enhancing, has been realised largely from the retirement of Trinity's shareholding in Selfcare, Inc. and hence, is non-dilutive."

Trinity Biotech develops, manufactures, and markets over 100 diagnostic products for the point-of-care (POC), self-testing (OTC), and clinical laboratory segments of the diagnostic market. Trinity sells worldwide in over 75 countries through 130 international distributors and strategic partners, including Warner Lambert, Carter Wallace, and SmithKline Beecham.

Forward-looking statements in this release are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including but not limited to, the results of research and development efforts, the effect of regulation by the United States Food and Drug Administration and other agencies, the impact of competitive products, product development commercialization and technological difficulties, and other risks detailed in the Company's periodic reports filed with the Securities and Exchange Commission.