Printer Friendly

DISEASE DETECTION INTERNATIONAL RECEIVES MERGER PROPOSAL FROM TRINITY BIOTECH PLC

 IRVINE, Calif., Jan. 17 /PRNewswire/ -- Disease Detection International, Inc. (NASDAQ Bulletin Board: DOTS) announced it has received a written letter of intent from the board of directors of Trinity Biotech plc ("Trinity") proposing a merger of the two companies. H. Thad Morris, president of Disease Detection, stated that the proposal is in the process of being considered and evaluated by its Board of Directors. No comment was available as to the proposed merger terms, except that the proposal contemplates an exchange of shares in which stockholders of Disease Detection International, other than Trinity, would receive American Depositary Receipts representing ordinary shares of Trinity.
 Trinity Biotech, headquartered in Dublin, Ireland, is believed to own at least 400,000 shares of Disease Detection's common stock and all of Disease Detection's issued and outstanding shares of Series A preferred stock, together representing approximately 50% of the equity and 67% of the outstanding voting power in Disease Detection. Trinity is a licensee of Disease Detection's proprietary SeroCard products and technology relating to in vitro detection in humans of sexually transmitted and infectious diseases for Mexico, Guatemala and all other areas of the world outside of North and South America. Trinity ADRs are traded in the NASDAQ Small Cap under the symbol "HIVSY" and Disease Detection common stock is quoted on the NASDAQ Electronic Bulletin Board under the symbol "DOTS."
 -0- 1/17/94
 /CONTACT: H. Thad Morris, president and chief executive officer of Disease Detection International, 714-457-1787/
 (DOTS HIVSY)


CO: Disease Detection International, Inc.; Trinity Biotech plc ST: California IN: MTC SU: TNM

MP-WB -- NY061 -- 1363 01/17/94 13:28 EST
COPYRIGHT 1994 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1994 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Jan 17, 1994
Words:268
Previous Article:TIG HOLDINGS DECLARES QUARTERLY DIVIDEND
Next Article:WHITMAN CORP. REPORTS SALES AND INCOME
Topics:

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters