Diamedix budgets 30% growth after takeover by GED

Diamedix, which operates in import and wholesale of diagnostic products (reactants, consumables and lab equipment), expects a 30% business growth for this year, against the 6.1 million euros reported in 2008. The company's majority stake has recently been taken over by GED investment fund, which paid 12.5 million euros for 80% of the shares in a transaction, which entailed both the purchase of shares worth 8.5 million euros, and a capital increase. "This sale was concluded in order for the company to continue its development," said Vasilis Chrelias, who has retained 20% of Diamedix's shares. He has a management contract under which he is to remain at the helm of the company over the next four years. Greek businessman Papadopoulos Nikolaos also sold 29.98% of the shares, making his exit from the business. Chrelias says the difficult economic situation has not had any impact whatsoever on the takeover of Diamedix, with the investment fund being the exclusive partner for negotiations. "The appraisal was made in 2008 and has remained stable. The medical sector is less affected by the crisis. The first two months' results are comparable to the 2008 ones," the businessman added.